Hearing Set On Visteon’s $700M Exit Financing Plan

Law360, New York (August 26, 2010, 4:41 PM EDT) -- A federal judge on Thursday agreed to hear bankrupt auto supplier Visteon Corp.'s request for approval of $700 million in exit financing from Morgan Stanley Senior Funding Inc.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware set a hearing date for Aug. 31, which is also the date of the confirmation hearing on Visteon's Chapter 11 exit plan.

The two-part plan has received approval by each class of impaired claims, according to a motion filed by Visteon Wednesday.

The debtor sought...
To view the full article, register now.