NEW YORK, Aug 9 Reuters Bankrupt trucking company Yellow Corp will not seek court approval to borrow 142.5 million from private equity firm Apollo Global Management as planned on Wednesday, instead seeking time to explore alternate loan offers, an attorney for the company said.

Yellow has received similarsized loan offers from MFN Partners, an investment firm that owns 41 of Yellow39;s stock, and Estes Express Lines, a rival in freight trucking, Yellow39;s attorney Pat Nash told U.S. Bankruptcy Judge Craig Goldblatt at a court hearing in Wilmington, Delaware.

Yellow is weighing those offers while negotiating with Apollo on how those loans would impact Apollo39;s collateral rights on a preexisting 501 million loan.

Apollo39;s proposal has features that Yellow doesn39;t love, including high fees, a 90day timeline for selling the company39;s assets, and veto rights over piecemeal asset sales, Nash said.

Yellow plans to return to court on Friday with more clarity on which loan it will choose. Goldblatt said the competition was encouraging, and that he hoped it would lead to better financing.

Yellow filed for bankruptcy on Sunday with just 39 million cash on hand, which the company said was not enough to run a monthslong bankruptcy sale for its 12,000 trucks, real estate holdings and other assets. Apollo39;s loan would require Yellow to sell its assets within 90 days, while the other two proposals envisioned a 180day sale process, Nash said.

Yellow blamed its collapse on…