Law Firm Planner - Legal News - Bankruptcy judge approves Visteon disclosure plan
Law Firm News
Today's Date: Bookmark This Website
Bankruptcy judge approves Visteon disclosure plan
Law Center | 2010/06/28 08:59
pA Delaware bankruptcy court judge on Friday cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan, which would leave unsecured bond holders in control of the company./ppOverruling objections from certain shareholders and holders of unsecured trade claims, Judge Christopher Sontchi approved documents describing Visteon's proposed reorganization plan and the process for creditors to vote on it./ppCreditors will have until July 30 to vote on the plan, and Sontchi scheduled a plan confirmation trial to begin Sept. 28./ppThe shareholders could receive nothing under Visteon's plan, and the trade creditors would get no more than 50 cents on the dollar for their claims, which total about $48 million. Their attorneys argued that the disclosure statement outlining Visteon's plan did not contain enough information on the company's valuation, and that the plan itself was unconfirmable because of how it treats various creditor groups./ppAttorneys for Visteon argued that the objections to the disclosure statement were without merit, or that they should be addressed at what promises to be a contentious plan confirmation trial stretching over two weeks.

[PREV] [1] ..[1422][1423][1424][1425][1426][1427][1428][1429][1430].. [1972] [NEXT]
Law Firm News
Headline News
Law Center
Court Watch
Legal Interview
Lawyer News
Legal Focuses
Firm News
Maldives court delays reinst..
Inmate in landmark Supreme C..
GOP to take new congressiona..
Afghans submitted 1.17 milli..
Specialist prosecutor for Ko..
Beleaguered gunmaker Remingt..
Court: Idaho nuclear waste d..
Kushner firm seeks court cha..
Wisconsin Supreme Court prim..
Supreme Court blocks some re..
Court allows Pennsylvania to..
Greek court postpones decisi..
Prosecutor asks for prison t..
Court: Lawsuit alleging coer..
Samsung heir freed after app..

   Lawyer & Law Firm List
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
New Rochelle Oil and Gas Industry Law Firm
Canton Family Lawyer
Canton Divorce Lawyer
© Law Firm Planner. All rights reserved. - Legal News and Articles on Recent US Legal Developments.

The content contained on the web site has been prepared by Law Firm Planner Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Legal Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Law Firm Website Design by Best Lawyer Website Design- Attorney Web Design That Works