Visteon Looks To Strike $30.6M Deal With GM

Law360, New York (September 18, 2009, 4:00 PM EDT) -- Bankrupt auto parts supplier Visteon Corp. has asked a judge to approve a deal that would infuse it with $30.6 million from General Motors Corp. and help it wind down unprofitable businesses in exchange for providing GM with component parts.

In the U.S. Bankruptcy Court for the District of Delaware on Thursday, Visteon moved for approval of an accommodation agreement with GM to increase the parts supplier's liquidity, shutter unprofitable operations and allow it to continue doing business with GM.

The deal will benefit both GM...
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