Plastech Set To Auction Off Its Business Units

By Samuel Howard

Law360, New York (May 27, 2008, 12:00 AM ET) -- Bankrupt auto parts supplier Plastech Engineered Products Inc. made significant headway in its reorganization Friday, receiving permission from a federal bankruptcy judge to auction off its business units and assets in June.

At a hearing, Judge Phillip J. Shefferly of the U.S. Bankruptcy Court for the Eastern District of Michigan granted Plastech's request to sell its business units – specifically its interiors and exteriors component businesses and other miscellaneous assets – and enter stalking horse agreements.

The auction is scheduled for June 16, 2008, and the...
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