A report today from the Detroit Free Press stated that, Rochester Hills, MI-based auto parts supplier Dura Automotive Systems has been given an additional four months to draft its reorganization plan without interference from creditors.
Yesterday, Judge Kevin J. Carey at the U.S. Bankruptcy Court in Wilmington, DE, extended the company's exclusive right to propose a Chapter 11 plan through Sept. 30.
According to the Free Press report, Carey's order, which also extends Dura's exclusive right to solicit creditor support through Nov. 30, said that the extension is "essential to the continued operation" of the company's business and in the best interests of Dura's creditors, according to the Free Press report.