Collins & Aikman Seeks Plan Approval

Law360, New York (July 10, 2007, 12:00 AM EDT) -- After facing numerous objections to its Chapter 11 plan, bankrupt auto parts maker Collins & Aikman Corp. has asked the court to overrule remaining objections and approve its amended plan at a hearing on Thursday.

Collins & Aikman filed its amended plan in the U.S. Bankruptcy Court for the Eastern District of Michigan Monday for the fourth time. The plan, the product of two years of negotiation with creditors, is supported by the unofficial steering committee for the prepetition lenders, the creditors committee and major customers,...
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