Judge Bats Down Dura Creditors' Bid For Judgment

Law360, New York (December 10, 2007, 12:00 AM EST) -- Two senior noteholders of over $80 million in Dura Automotive Systems Inc. were rebuffed when a federal judge ruled that Dura’s Chapter 11 reorganization plan does not violate the Bankruptcy Code by treating creditors in their position unfairly.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware granted the debtors’ motion for summary judgment on Friday and denied that of the plaintiffs, who are holders of over $80 million in Dura's 9% senior subordinated notes and who initiated this adversary action...
To view the full article, register now.