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- Statement of Changes in Beneficial Ownership (4)

Date : 10/14/2011 @ 4:16PM
Source : Edgar (US Regulatory)
Stock : Yrc Worldwide, Inc. (MM) (YRCW)
Quote : 26.9  0.31 (1.17%) @ 4:00AM

- Statement of Changes in Beneficial Ownership (4)

FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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OMB Number: 3235-0287
Expires: November 30, 2011
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CYRUS CAPITAL PARTNERS, LP
2. Issuer Name and Ticker or Trading Symbol

YRC Worldwide Inc. [ TRCW ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

399 PARK AVENUE, 39TH FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)

10/12/2011
(Street)

NEW YORK, NY 10022
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
10% Series A Convertible Senior Secured Notes due 2015     (4) 10/6/2011     S         $2,000,000   (2)   7/22/2013   3/31/2015   Common Stock, par value $0.01 per share   17644000   $1,160,000   (2) 87570299   I   See Footnotes   (1) (3)

Explanation of Responses:
( 1)  This statement is being filed by Cyrus Capital Partners, L.P., a Delaware limited partnership ("Cyrus"), FBC Holdings, S.a.r.l., a Luxembourg limited liability company ("FBC"), Cyrus Capital Partners GP, L.L.C., a Delaware limited liability company ("Cyrus GP"), and Mr. Stephen C. Freidheim (each of Cyrus, FBC, Cyrus GP and Mr. Freidheim, collectively, the "Reporting Persons"). FBC, which serves as a special purpose vehicle for making investments, is a wholly-owned subsidiary of Cyrus Opportunities Master Fund II, Ltd., CRS Fund, Ltd., Crescent 1, L.P., Cyrus Select Opportunities Master Fund, Ltd. and Cyrus Europe Master Fund, Ltd., each of which are private investment funds engaged in the business of acquiring, holding and disposing of investments in various companies. Cyrus is the manager of FBC and the investment manager of each private fund holding an interest in FBC. Cyrus GP is the general partner of Cyrus. Mr. Freidheim is the managing member of Cyrus GP and the Chief Investment Officer of Cyrus.
( 2)  On October 12, 2011, FBC sold $2,000,000 of the 10% Series A Convertible Senior Secured Notes due 2015 (the "Series A Notes") it held directly in a private resale through Deutsche Bank AG for $1,160,000.
( 3)  Pursuant to Rule 16a-1(a)(4) under the Exchange Act, this filing shall not be deemed an admission that each Reporting Person was, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any shares of Common Stock held by the Reporting Persons, and such beneficial ownership was and is expressly disclaimed by the Reporting Persons (other than FBC) except to the extent of their pecuniary interest.
( 4)  The Series A Notes are convertible into shares of Common Stock, par value $0.01 per share (the "Common Stock"), of YRC Worldwide, Inc. at a conversion rate of 8822 shares of Common Stock per $1,000 of Series A Notes.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
CYRUS CAPITAL PARTNERS, LP
399 PARK AVENUE
39TH FLOOR
NEW YORK, NY 10022

X

CYRUS CAPITAL PARTNERS GP, LLC
399 PARK AVENUE
39TH FLOOR
NEW YORK, NY 10022

X

FREIDHEIM STEPHEN C
399 PARK AVENUE
39TH FLOOR
NEW YORK, NY 10022

X

FBC HOLDINGS S.A.R.L.
399 PARK AVENUE
39TH FLOOR
NEW YORK, NY 10022

X


Signatures
/s/ Stephen C. Freidheim, Managing Member of Cyrus Capital Partners GP, LLC, its general partner 10/14/2011
** Signature of Reporting Person Date

/s/ Stephen C. Freidheim, Managing Member 10/14/2011
** Signature of Reporting Person Date

/s/ Stephen C. Freidheim 10/14/2011
** Signature of Reporting Person Date

/s/ Stephen C. Freidheim, Managing Member of Cyrus Capital Partners GP, LLC, the general partner of Cyrus Capital Partners, L.P., the investment manager of FBC Holdings S.a.r.l's shareholders 10/14/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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