Remy Emerges From Chapter 11

Law360, New York (December 7, 2007, 12:00 AM EST) -- Remy International Inc., the bankrupt auto parts maker that spun off from General Motors in 1994, has sailed through Chapter 11, restructuring its debt and arrangements with GM in less than 59 days.

U.S. Bankruptcy Judge Kevin J. Carey approved Indiana-based Remy's disclosure statement and prepackaged Chapter 11 plan on Nov. 20. Remy also gained access to an exit financing facility worth up to $330 million, which includes a $120 million revolver and $210 million in term loans, on Dec. 6, the company said.

The company...
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