Dana Poised To Leave Bankruptcy

Law360, New York (December 10, 2007, 12:00 AM EST) -- With an overwhelming majority of unsecured creditors throwing their support behind Dana's reorganization plan, the beleaguered auto supplier is on the brink of emerging from Chapter 11.

On Monday, Dana reported to the U.S. Bankruptcy Court for the Southern District of New York that 96% of its unsecured creditors voted in favor of the reorganization plan, Bankruptcy Data reported, inching the plan closer to reality.

"The plan enjoys the full support of each of [the company's] primary constituencies," Dana purportedly told the court, according to Bankruptcy...
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