Judge Approves Metaldyne Asset Sale On Appeal

Law360, New York (January 4, 2010, 1:05 PM EST) -- Bankrupt auto parts maker Metaldyne Corp. has won permission to complete the sale of virtually all its assets to a consortium of prepetition lenders, with a federal district judge quashing a challenge from a separate lender group claiming it got the short shrift during the asset auction.

Judge Denise Cote of the U.S. District Court for the Southern District of New York on Dec. 29 affirmed the sale of most of Metaldyne's assets to MD Investors Corp., effectively dismissing the appeal lodged by secured lenders from...
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