Tower's automotive suppliers seeks appointment of official committee

By Ellen Chang

Houston, March 30 - Tower Automotive Inc.'s automotive suppliers are seeking the appointment of an official committee of automotive supplier creditors, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The request came from ArvinMeritor, Inc., Robert Bosch Corp., Comau Pico, Delphi Corp., Denso International America, Inc., Visteon Corp. and Yazaki North America, Inc.

They want either a separate committee of automotive suppliers to be created or to have one or more of the seven automotive suppliers to be appointed to the current official committee of unsecured creditors. The suppliers represent over $100 million of claims.

The appointment of a separate committee will facilitate a consensual plan of reorganization rather than add to the complexity to the reorganization.

The suppliers added that they "lack an efficient and meaningful alternative" to participate in the bankruptcy cases.

The suppliers said they would not be adequately represented by the creditors committee because their interests are different from the bondholders and other groups since they continue to supply parts.

A hearing is scheduled for April 20.

Tower Automotive, a Novi, Mich.-based maker of automotive assemblies, filed for Chapter 11 on Feb. 1. Its case number is 05-10578.

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