Court Blesses J.L. French Settlement

Law360, New York (July 5, 2006, 12:00 AM EDT) -- A judge has pushed aside the last hitch remaining in J.L. French Automotive Castings Inc.’s bankruptcy case, approving a settlement to resolve a disagreement between unsecured creditors and first-lien lender General Electric Capital Corp.

Last month, J.L. French’s plan of reorganization was approved, giving the bankrupt auto parts maker the green light to emerge from Chapter 11. But a fight between the creditors and the lender remained uncertain.

The settlement, approved last week by U.S. Bankruptcy Judge Mary Walrath, allows for J.L. French to take $400,000...
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