Judge OK's Collins & Aikman, Nissan Settlement

Law360, New York (March 9, 2007, 12:00 AM EST) -- A judge has accepted a settlement agreement between Nissan Motor Co. and Collins & Aikman Corp., a move that bolsters the bankrupt auto parts maker’s reorganization plan.

Judge Steven Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan blessed the agreement in an order filed Tuesday. Details of the settlement, which was reached with Nissan North America Inc., the company’s U.S. subsidiary, were sealed.

In its motion asking for approval of the settlement in February, Collins & Aikman said the settlement agreement would...
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