Visteon Creditors Attack Collateral Deal With Ford

Law360, New York (June 16, 2009, 12:00 AM EDT) -- Visteon Corp.'s unsecured creditors have objected to an agreement between Visteon and its debtor-in-possession lender and former parent Ford Motor Co. on Visteon's use of cash collateral, saying that the agreement could unfairly favor Ford over other creditors.

In an objection filed Monday in the U.S. Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors in Visteon's bankruptcy objected to six provisions in the proposed cash collateral order. It said that the special relationship between Visteon and Ford, which parted ways nine...
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