International Aluminum granted court approval of first-day motions

By Caroline Salls

Pittsburgh, Jan. 8 - International Aluminum Corp. received court approval of all of its first-day bankruptcy motions, according to a company news release.

Specifically, the company received court approval to pay its pre-bankruptcy insurance obligations, employee wages, salaries and health benefits during its restructuring.

The company was also granted approval to continue to honor its current customer programs, including warranties, and it will continue to have access to its cash.

A hearing on approval of the disclosure statement for International Aluminum's pre-packaged plan of reorganization has been set for Feb. 17.

"We are pleased to have received approval of all of these very important motions and a date to consider approval of the disclosure statement," chief executive officer Dick Almy said in the release.

"We are now well on our way to emerging a stronger and more competitive company poised for growth."

International Aluminum, a Monterey Park, Calif., manufacturer of diversified lines of aluminum and vinyl products, filed for Chapter 11 bankruptcy on Jan. 4 in the U.S. Bankruptcy Court for the District of Delaware. Its case number is 10-1003.

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