Visteon Says It May Be Headed Toward Ch. 11

Law360, New York (April 1, 2009, 12:00 AM EDT) -- Former Ford Motor Co. subsidiary Visteon Corp., one of the largest automotive suppliers in the U.S., said it may seek Chapter 11 bankruptcy protection this year, amid doubts from its auditor that the company can meet its financial obligations.

In its annual 10-K report, filed on Tuesday with the U.S. Securities and Exchange Commission, the auto supplier expressed “substantial doubt” that it could survive the year as a going concern, and did not rule out an in-court solution to its financial woes.

“Absent access to additional...
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