Bankrupt Auto Parts Maker Gets Green Light for $25M Deal

Law360, Wilmington (August 30, 2013, 5:52 PM ET) -- A Delaware bankruptcy judge on Friday signed off on the proposed $25 million sale of auto parts manufacturer Metavation LLC to industry rival Dayco Products LLC, a deal backed by automakers who rely on the Revstone Industries LLC unit for specialized component parts.

Michigan-based Metavation filed for Chapter 11 last month backed by a support agreement from General Motors Co. and Chrysler Group LLC designed to keep the company running while it pursued a  speedy Section 363 auction, and tapped stalking horse Dayco as the winner...
To view the full article, register now.