Garrett, Honeywell Sent Into Talks Over Dueling Ch. 11 Plans

Law360 (October 21, 2020, 9:23 PM EDT) -- A New York bankruptcy judge on Wednesday sent auto parts maker Garrett Motion, former parent Honeywell International and a pair of investment funds into talks over an alternative Chapter 11 plan after a contentious hearing on Garrett's proposed auction procedures.

U.S. Bankruptcy Judge Michael Wiles said that much of the more than five hours of virtual argument he heard Wednesday seemed aimed at getting him to make a premature pick between the $2.6 billion stalking horse bid put forward for Garrett and a restructuring plan championed by Honeywell and creditor and shareholder groups. But he said that he was instead going...

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