Dana unsecured creditors committee objects to company's attempt to withhold confidential information

By Caroline Salls

Pittsburgh, March 28 - Dana Corp.'s official committee of unsecured creditors objected to the company's request that the court confirm that official committees are not authorized or required to provide access to confidential or privileged company information, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the objection, the committee and the company agree that the requested court confirmation is necessary, but Dana's proposed order would not only limit the dissemination of sensitive information, it would keep committee members "from having any access to broad categories of information."

In addition, the committee said the proposed order would keep some members from participating in any discussions related to their business dealings or proposed transactions with the company and would bar members from receiving information on any matter in which they allegedly have potential conflicts of interest.

A hearing is scheduled for Wednesday.

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

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