YRC Worldwide To Enter Ch. 11 If Debt Exchange Fails

Law360, New York (November 9, 2009, 5:18 PM EST) -- YRC Worldwide Inc. plans to file for bankruptcy if it cannot complete a $536 million debt exchange offer that will enable it to tap into a $106 million revolver credit reserve, the trucking company said Monday.

In an S-4 filing with the U.S. Securities and Exchange Commission, YRC warned investors that it must ease its debt load by completing the offering or else file for bankruptcy.

“If we are unable to complete the exchange offers and address our new term liquidity needs as a result of...
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