Bankrupt Revstone Unit Unveils Pact With Chrysler, GM

Law360, Wilmington (July 30, 2013, 8:10 PM ET) -- Revstone Industries LLC's bankrupt subsidiary on Monday unveiled details about a sale support agreement with General Motors Co. and Chrysler Group Inc. that is designed to keep the debtor in business as the days count down to its proposed $25 million stalking horse sale to Dayco.

Metavation Inc.'s bankruptcy court motion did not include all of the precise figures comprising the agreement, but did outline the general idea behind the proposed pact among the debtor, Revstone, some of its nondebtor affiliates and the automakers.

The proposed...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required