Dura hearing on creditor request for information on backstop agreement continued to Aug. 14

By Jennifer Lanning Drey

Portland, Ore., Aug. 9 - The hearing on Dura Automotive Systems, Inc.'s official committee of unsecured creditors' request that the court either speed up the document production process or postpone the Aug. 15 hearing for approval of the company's rights offering backstop agreement hearing was continued to Aug. 14.

The hearing began Thursday at the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the committee said it has asked Dura and rights offering backstop party Pacificor, LLC for documents that would ensure if the concerns the committee has expressed to the company about the backstop agreement are not resolved, the committee would have time to formally object to the agreement.

However, on Aug. 8, the committee said neither party had provided any information.

Dura, a Rochester Hills, Mich.-based automotive parts maker, filed for bankruptcy on Oct. 30, 2006 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 06-11202.

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