Judge Gives Green Light To Dana

Law360, New York (December 12, 2007, 12:00 AM EST) -- Despite numerous objections, a federal bankruptcy judge has given the go-ahead to Dana Corp.'s plan of reorganization, paving the way for the long-suffering auto parts supplier to exit Chapter 11 by the end of January.

On Wednesday, Dana revealed that U.S. Bankruptcy Judge Burton Lifland had signaled his intention earlier in the day to sign off on the restructuring proposal after determining that the Michigan-based supplier had met all of the obligations necessary for confirmation.

"This is another important step toward our emergence as a financially...
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