Visteon Seeks Approval For $150M DIP Package

Law360, New York (October 29, 2009, 5:04 PM EDT) -- Auto parts maker Visteon Corp. has asked the court overseeing its Chapter 11 proceedings to give a green light to its bid for up to $150 million in debtor-in-possession financing to bolster the company's liquidity as the former Ford Motor Co. unit gears up for an expected uptick in vehicle production.

Visteon filed its motion for authorization to obtain post-petition financing in the U.S. Bankruptcy Court for the District of Delaware on Wednesday. The court will consider the DIP motion at a hearing slated for Nov....
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