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Collins & Aikman asks court to postpone plan confirmation hearing to July 12
By Caroline Salls
Pittsburgh, May 31 - Collins & Aikman Corp. asked the U.S. Bankruptcy Court for the Eastern District of Michigan to postpone its plan of reorganization confirmation hearing to July 12 from June 5 to seek approval of a settlement with General Electric Capital Corp. and an agreement on retiree benefits with the United Auto Workers, according to a Thursday court filing.
The company said the hearing postponement would also allow it to finalize agreements related to the sale of its plastics business.
Collins & Aikman, a Troy, Mich.-based automotive company, filed for Chapter 11 on May 17, 2005. Its case number is 05-55927.
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