From Detroit Free Press
Federal-Mogul Corp. is asking for permission to sell its 30 percent interest in Indian piston-ring maker India Pistons Ltd. to the 70 percent owner Simpson & Co. for $13.65 million in cash.
Federal-Mogul completed the trial portion of the confirmation hearing for approval of its reorganization plan. The contesting parties are filing post-trial briefs now.
The Southfield-based parts maker filed under Chapter 11 in October 2001.
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