Lear Gains Access To Cash Collateral

Law360, New York (July 9, 2009, 12:00 AM EDT) -- A federal bankruptcy judge has granted interim approval to a raft of automotive seat manufacturer Lear Corp.'s first-day motions, including the use of cash collateral, allowing the company to continue operations as it works through a prepackaged Chapter 11 process.

In addition to the continued use of cash collateral, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York on Wednesday signed interim orders authorizing the payment of shippers and suppliers incurred prior to the bankruptcy filing, approving notification practices for...
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