Intermet court hearing on agreement outlining Chapter 11 plan delayed

By Jennifer Lanning Drey

Portland, Ore., May 27 - Intermet Corp.'s hearing for approval of an agreement with its official committee of unsecured creditors and other major constituencies that forms the basis of its Chapter 11 plan was continued to June 4, according to a source familiar with the case.

The hearing was originally scheduled for Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the agreement resolves pending claims asserted by the company's creditors committee against Intermet's pre-bankruptcy lenders and outlines a structured distribution scheme.

Intermet, a Fort Worth, Texas-based automotive cast component supplier, filed for bankruptcy on Aug. 12, 2008. Its Chapter 11 case number is 08-11859.

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