Dana investment, union settlement agreement hearing pushed back to Thursday

By Caroline Salls

Pittsburgh, July 24 - Dana Corp.'s hearing on approval of its plan support and investment and union settlement agreements has been postponed to Thursday, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The hearing was originally scheduled for Wednesday.

As previously reported, Dana announced on July 6 that it had reached a series of interrelated union and investment agreements with the United Auto Workers, United Steel Workers and Centerbridge Capital Partners, LP that the company said will substantially reduce its operating costs and provide momentum toward its emergence from bankruptcy.

Dana, a Toledo, Ohio-based supplier of components, modules and systems to vehicle manufacturers and related aftermarkets, filed for bankruptcy on March 3, 2006. Its Chapter 11 case number is 06-10354.

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