Hayes Lemmerz disclosure statement hearing adjourned to Sept. 1

By Jennifer Lanning Drey

Portland, Ore., Aug. 21 - Hayes Lemmerz International, Inc.'s hearing for approval of the disclosure statement for its plan of reorganization was adjourned for a second time by the U.S. Bankruptcy Court for the District of Delaware, an attorney said Friday.

The hearing was adjourned to Sept. 1 from Aug. 21.

Hayes Lemmerz's disclosure hearing was originally scheduled for July 30 but was pushed back by three weeks to provide the company additional time to continue negotiations with creditors and other constituents on final plan terms, according to a July 28 company news release.

At the time, the company said it was 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.

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