Finance & Business World

YRC Worldwide Inc. has asked a federal judge to rule that it doesn’t have to repay millions of dollars in bonds that were not retired as part of last year’s debt-for-equity exchange.

In a filing Thursday in the U.S. District Court of Kansas, the Overland Park-based company (Nasdaq: YRCW) asked for summary judgment against Deutsche Bank Trust Co.

Deutsche Bank is acting as trustee for bondholders that did not participate in the exchange, announced Dec. 31, which eliminated about a third of the company’s total debt and gave bondholders a majority share of the company.

In court filings, Deutsche Bank claims obligations for those bonds still are coming due in August, and YRC says the swap relieved it of those requirements.

The company has set aside $20.2 million to pay those debts if the lawsuit fails, part of $70 million the company raised in a private placement in February.

If successful in its lawsuit, YRC said the money will go toward general corporate purposes.

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