Hedge Funds Seek To Revamp Visteon Ch. 11 Plan

Law360, New York (March 10, 2010, 6:32 PM EST) -- A hedge fund group that holds 7.3 percent of Visteon Corp.’s stock wants to set up a meeting with the bankrupt auto parts company’s board of directors to develop a revised Chapter 11 plan.

Davidson Kempner Partners, Plainfield Asset Management and Brigade Capital Management said they have formed an ad hoc committee and requested a meeting no later than Friday to discuss modifications to the plan in light of signs that Visteon’s financial condition is improving, according to a March 8 letter filed with the U.S....
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