Hayes Lemmerz disclosure statement hearing pushed back to Aug. 18

By Caroline Salls

Pittsburgh, July 28 - Hayes Lemmerz International, Inc. said the hearing to approve the disclosure statement for its proposed plan of reorganization has been adjourned to Aug. 18 from July 30, according to a company news release.

The company said the three-week adjournment will give it additional time to continue negotiations with creditors and other constituents on final plan terms.

Hayes Lemmerz said the plan already has the overwhelming support of its senior secured lenders.

According to the release, the company is making progress in negotiations with representatives of its unsecured creditors, including the holders of its senior notes, the Pension Benefit Guaranty Corp. and hourly and salaried retirees to reach resolutions that will significantly reduce Hayes Lemmerz's debt burden.

Hayes Lemmerz is a Northville, Mich., maker of automotive and commercial highway wheels. It filed for Chapter 11 on May 12 in the U.S. Bankruptcy Court for the District of Delaware. Its case number is 09-11655.

© 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.