Visteon Wins Exclusivity Over Shareholder Objections

Law360, New York (May 12, 2010, 5:06 PM EDT) -- A bankruptcy judge has extended automotive parts Visteon Corp.'s exclusive right to file a reorganization plan, over the objections of an ad hoc committee of its equity holders and Aurelius Capital Master Ltd., which had hoped to offer a rival plan.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware ruled Wednesday that the extension was β€œin the best interest of the debtors' estates, their creditors and other parties in interest.”

The extension β€” Visteon's third β€” gives the company an...
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