Contech Seeks Ch. 7 Conversion

Law360, New York (July 6, 2009, 12:00 AM EDT) -- Auto parts maker Contech U.S. LLC is seeking to exchange its Chapter 11 bankruptcy filing for Chapter 7, saying that, despite its best efforts to shore up value in the anemic U.S. auto market, liquidation is the only option to salvage remaining compensation for its creditors.

Less than six months after first filing for Chapter 11 protection, Portage, Mich.-based Contech U.S., a light-metal die casting and machining company that manufactured advanced metal components for major U.S. automakers, on Thursday asked the court to convert its case...
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