Dana, creditors committee agree to make $8.36 million July 15 pension payment

By Caroline Salls

Pittsburgh, June 26 - Dana Corp. will make the scheduled $8.36 million July 15 pension plan payment with the consent of the official committee of unsecured creditors, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the filing, the committee believes that post-bankruptcy contributions to the pension plans on account of pre-bankruptcy services are not required under the bankruptcy code, but the company and the committee have agreed to resolve this pension funding dispute only for the July 15 contribution.

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

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