Wolverine Files For Ch. 11, Plans To Exit Within 90 Days

Law360, New York (November 1, 2010, 12:09 PM EDT) -- Wolverine Tube Inc., which makes copper tubing and other products for the heating and air conditioning industry, and several affiliates filed prearranged Chapter 11 petitions Monday after striking a deal with noteholders to restructure the company’s debt.

Wolverine filed its petition and a slew of first-day motions in the U.S. Bankruptcy Court for the District of Delaware, claiming that volatility in copper prices, increased funding obligations for its pension plan and high interest on $131 million of senior secured notes forced the company into bankruptcy....
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