Judge Grants 1st-Day Motions In Key Plastics Ch. 11

Law360, New York (December 18, 2008, 12:00 AM EST) -- A bankruptcy judge has approved a handful of first-day motions requested by automotive supplier Key Plastics LLC after it filed for Chapter 11 protection this week, blaming rough conditions in the automotive industry.

On Wednesday, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware signed off on 12 orders authorizing Key Plastics to pay prepetition claims of unsecured creditors, granting the company access to certain debtor-in-possession financing and offering other relief to the troubled auto-parts maker.

Judge Walrath also consolidated the...
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