Insurers Say Mark IV Ch. 11 Plan Too Vague

By Christie Smythe

Law360, New York (September 15, 2009, 7:24 PM ET) -- Several parties — including CNA Insurance Cos., Liberty Mutual Insurance Co. and a property investment firm — have objected to a reorganization proposal for bankrupt automotive systems components manufacturer Mark IV Industries Inc., contending the plan is unclear about a bevy of insurance and environmental obligations.

The insurers, the property investment company Chant Family II LP and others lodged a total of five objections on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York over the proposed confirmation of the amended reorganization...
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