Lear's Disclosure Statement OK'd

Law360, New York (September 21, 2009, 1:22 PM EDT) -- A federal bankruptcy judge has approved bankrupt car-seat maker Lear Corp.'s disclosure statement for an amended Chapter 11 reorganization plan that calls for converting about $3.7 billion in debt into new loans and preferred and common stock.

Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York approved the disclosure statement on Friday. The deadline for voting on and filing objections to the reorganization plan was set for Oct. 26, and a confirmation hearing was scheduled for Nov. 5, the...
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