Ford Settlement Opens Door For Visteon To Exit Ch. 11

Law360, New York (September 29, 2010, 2:39 PM EDT) -- A federal judge approved a settlement Wednesday between Visteon Corp. and its former parent Ford Motor Co. that releases $160 million in claims against the bankrupt auto parts maker, allowing Visteon to exit bankruptcy on Oct. 1.

The settlement “represents the last piece of the puzzle” in a reorganization that began 15 months ago, an attorney for the debtors said at a hearing in the U.S. Bankruptcy Court for the District of Delaware.

“Clearly it is in the best interests of the debtor and satisfies the...
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