Hayes Lemmerz Rolls Into 2nd Ch. 11 With Plan Set

Law360, New York (May 12, 2009, 12:00 AM EDT) -- In a bid to stave off liquidation, automotive wheel giant Hayes Lemmerz International Inc. has sought Chapter 11 protection for the second time in a decade, blaming financial woes that have trickled down from General Motors Corp. and other contractors.

Hayes and 25 subsidiaries filed Chapter 11 petitions Monday in the U.S. Bankruptcy Court for the District of Delaware, requesting quick access to a prenegotiated $100 million debtor-in-possession financing facility offered by 30 of the wheel maker's senior lenders to keep operations moving.

The company underlined...
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