Deal In Hand, Wheel Maker Accuride Rolls Into Ch. 11

Law360, New York (October 8, 2009, 12:42 PM EDT) -- Accuride Corp., an Evansville, Ind.-based maker of medium- and heavy-duty steel and aluminum wheels, said Thursday it was filing for bankruptcy under a prearranged agreement with bondholders and senior lenders that leaves current stockholders out in the cold.

The filing, in the U.S. Bankruptcy Court for the District of Delaware, amounts to a balance sheet restructuring with a committee of holders of $275 million worth of its senior subordinated notes and a committee of senior lenders, the company said.

“Accuride’s debt restructuring efforts are designed to...
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