Dura plan confirmation hearing postponed indefinitely

By Caroline Salls

Pittsburgh, Dec. 13 - Dura Automotive Systems, Inc.'s plan of reorganization confirmation hearing has been postponed, with the new hearing date to be announced at a later date, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The hearing was originally scheduled for Nov. 26 and then was adjourned to Dec. 11. Earlier this week, the hearing was adjourned to Dec. 17 to allow exit facility lenders to complete the syndication of the financing.

However, on Thursday, Dura announced that the exit facility would be delayed as a result of unfavorable market conditions.

Dura said it will evaluate its financing strategy in early 2008.

Dura, a Rochester Hills, Mich.-based automotive parts maker, filed for bankruptcy on Oct. 30, 2006. Its Chapter 11 case number is 06-11202.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.