Visteon Looks To Ditch Contaminated Property

By Anne Urda

Law360, New York (November 20, 2009, 12:35 PM ET) -- Bankrupt auto parts maker Visteon Corp. is seeking to sell a contaminated piece of land back to an Indiana city, looking for relief from the financial obligations connected to the property.

On Thursday, Visteon filed the motion in the U.S. Bankruptcy Court for the District of Delaware to sell certain real property in Connersville, Ind., back to the city, thereby relieving it of any environmental obligations and liabilities.

“Simply put, given the debtors’ environmental obligations, the property’s inherent marketability issues, and the fact that the property...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles