Takata Corp. Comments On Bankruptcy Filing Rumors
Takata Corp. issued a statement today following reports from a number of media outlets indicating that the company is considering filing for bankruptcy in the U.S.
UCI Holdings Files For Voluntary Chapter 11 Bankruptcy Protection
The company has been granted approval of key motions in the first step of its plan to restructure debt.
Bankruptcy Court Confirms Fisker Automotive Plan
The company received court approval of its sale to Wanxiang Group Corp. in February for $149.2 million. In April, the company signed a global settlement term sheet with Hybrid Tech Holdings LLC, which provided post-petition financing, and the company’s Unsecured Creditors’ Committee to distribute the proceeds of the sale to the company’s creditors.
A123 Systems, Now Known As B456, Wins Court Approval To Exit Bankruptcy
A123 Systems was able to exit bankruptcy by selling off virtually all of its assets to pay off creditors, according to a report from AOL Autos’ AutoBlogGreen.
Fenwick Automotive Products Limited Bankruptcy Filing Expected
Fenco is currently being managed by a chief restructuring officer and a board not affiliated with Motorcar Parts of America, and Fenco will make any decision as to the timing and process for any bankruptcy proceeding.
Johnson Controls Files Appeal Of A123 Bankruptcy Sale
Company objects to delay in payment of breakup fee and expense reimbursement, voices concerns over potential security issues if sale to Wangxiang goes through.
Johnson Controls Withdraws From A123 Systems Bankruptcy Auction, All Assets Sold To Wanxiang
Johnson Controls officially withdrew from the bankruptcy auction to acquire portions of A123 Systems when it declined to match a higher bid submitted by Wanxiang. Subsequently, A123 representatives accepted Wanxiang’s bid of $257 million as the best offer for the total company over a set of competing complementary bids by Johnson Controls for the automotive and government assets and NEC for the grid and commercial assets.
Change In Plans For JCI’s A123 Bankruptcy Deal
Agrees to change in debtor-in-possession funding to help maintain value of A123 assets.
Strauss Discount Auto Files Bankruptcy
MEMA Financial Services Group (MFSG) has reported that Strauss Discount Auto declared Chapter 11 bankruptcy on June 4.
Visteon Shareholders Seek Examiner in Bankruptcy Case
As it stands now, Visteon’s plan does not include any compensation for shareholders, which is common in bankruptcy cases, the Free Press noted.