Dura Will Keep Legal Claims Against Tilton In Ch. 11 Sale
Law360 (May 12, 2020, 6:29 PM EDT) -- A Delaware bankruptcy judge gave Dura Automotive permission Tuesday to accept a credit bid for its North American and European assets after being told the deal has been revised to give the estate another $10 million and allow it to keep claims against ex-manager Lynn Tilton.
U.S. Bankruptcy Judge Karen Owens approved the sale agreement after a telephone hearing in which she was told buyer Bardin Hill Investment Partners LP had agreed to sweeten the deal in response to objections filed by the unsecured creditors and that the auto parts maker will be administratively insolvent and moving into a Chapter 7...
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