Dura Automotive Heads Toward Last Resort Del. Ch. 11 Sale

Law360 (May 4, 2020, 8:17 PM EDT) -- Dura Automotive lined up a short-notice hearing Monday for a last resort Delaware bankruptcy court sale of its North American and European assets, after seeing hopes for better options crushed by the COVID-19 pandemic and broader auto industry troubles.

U.S. Bankruptcy Judge Karen B. Owens approved a May 12 hearing for the two sale motions days after Dura sought quick action on the deals with affiliates of Bardin Hill Investment Partners LP and guarantor The Charlton Group Inc.

Under the plan, Dura's North American affiliates would go to Bardin Hill for a $5 million credit bid, or debt takeback, and payment...

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