Blaming Chinese Tire Duties, GPX Files Ch. 11

Law360, New York (October 27, 2009, 3:03 PM EDT) -- Contending that it was pushed into financial distress in part by onerous duties related to its manufacturing operations in China, heavy-duty tire producer GPX International Tire Corp. has filed for bankruptcy protection with a plan to break apart and sell its business as three separate units.

The company filed for Chapter 11 protection on Monday in the U.S. Bankruptcy Court for the District of Massachusetts, listing estimated assets and liabilities of $100 million to $500 million each.

At least $5.7 million is owed to U.S. Customs...
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