Court Grants Auto Parts Maker Seventh Reprieve

Law360, New York (January 16, 2007, 12:00 AM EST) -- Auto parts supplier Collins & Aikman has been granted a seventh extension on its exclusive period to file a plan to sell off its assets and emerge from bankruptcy.

In granting the motion Thursday, Judge Steven Rhodes of the U.S. Bankruptcy Court in Detroit agreed the 120-day relief requested was in the best interests of the Michigan-based company.

Rhodes extended the Chapter 11 plan proposal deadline from January 12 to March 28. The period within which the company may solicit creditor support was extended to May...
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