Accuride Emerges from Chapter 11 Bankruptcy
As outlined in the plan, Accuride exits bankruptcy with a more flexible capital structure including a $308 million term loan and $140 million of convertible notes. All unsecured trade creditors will be paid in full for valid claims.
Visteon Receives Approval for Stipulation from Bankruptcy Court
Supplier’s Disclosure Statement hearing to be continued.
Visteon to Give Lenders Majority of Company Shares, Post Bankruptcy
Reuters cites documents filed with the U.S. Bankruptcy Court in Delaware, which show that Visteon plans to issue new common stock and secured debt in full settlement of the secured term loan lenders’ claims, while unsecured lenders would receive nothing.
Objections Filed in Visteon’s Bankruptcy Case
The Pension Benefit Guaranty Corp. (PBGC) and official committee of unsecured creditors have filed with the U.S. Bankruptcy Court separate objections in Visteon’s Chapter 11 case.
It’s Official: Delphi Emerges From Bankruptcy
Nearly four years to the day since the company originally filed on Oct. 8, 2005, Delphi today is out of bankruptcy and operating as a private company.
Holley Performance Files for Bankruptcy, Again
According to the AP, Holley’s post-bankruptcy plan to focus on its growing OE business did not pan out, and the company is now looking to sell that division after a deal with Caterpillar for diesel truck engines fell through.
Visteon Asks Bankruptcy Court for More Time
The company has met with its various lenders and creditors to present its business plan but wants to wait on a ruling regarding retiree health care and insurance benefits before submitting its plan of reorganization.
Stant Expects Early Emergence from Bankruptcy
From the initial July 27 filing date, Stant’s time in the Chapter 11 process will be less than 75 days.
Delphi’s Modified Plan of Reorganization Confirmed by Bankruptcy Court
Delphi said it plans to emerge this quarter, after nearly four years in bankruptcy.
Hayes Lemmerz Bankruptcy Hearing Adjourned Until Aug. 18; Restructuring Continues as Planned
The three-week adjournment will allow the company additional time to continue negotiations with creditors and other constituents with respect to its final plan of reorganization.