According to a recent report from BankruptcyData.com, the U.S. Bankruptcy Court has approved a motion by Visteon for a stipulation related to an extension for filing its plan of reorganization.
BankruptcyData.com said the stipulation is between the company, its official committee of unsecured creditors and Ford Motor Co., in its capacity as the lender under the debtors’ pre-petition asset backed lending facility and administrative agent for the debtors’ pre-petition $1.5 billion term loan facility.
The court order has allowed for Visteon to continue its hearing on the Disclosure Statement Motion from Feb. 18 to the omnibus hearing scheduled for March 16 with an objection deadline of March 5 at 4 p.m. EST.