Bankrupt Revstone Unit Gets Nod On Chrysler, GM Pact

Law360, Wilmington (August 22, 2013, 8:25 PM EDT) -- A Delaware bankruptcy judge on Thursday approved a sale support agreement between Revstone Industries LLC's bankrupt subsidiary Metavation Inc. and General Motors Co. and Chrysler Group Inc., which the debtor argued was crucial to the going-concern value of the affiliate leading up to a proposed $25 million stalking horse sale.

U.S. Bankruptcy Judge Brendan L. Shannon made his ruling over the objections from several creditors in the Revstone case — which is not jointly administered with Metavation's — including the creditors committee and major secured creditor...
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