Burdened By Debt, Bus Maker Pulls Into Bankruptcy

Law360, New York (September 16, 2008, 12:00 AM EDT) -- Bus maker Motor Coach Industries International Inc. filed for Chapter 11 protection on Monday, a move brought on by declining orders for new buses, increasing costs of raw materials and tight credit markets putting the brakes on the company's ability to refinance its secured credit facilities out of court.

Motor Coach Industries filed its petition in the U.S. Bankruptcy Court for the District of Delaware, listing assets between $500 million and $1 billion dollars, and debts in the $100 million to $500 million range. The company...
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