Visteon Gets Green Light For DIP Cash, Asset Sale

Law360, New York (November 13, 2009, 2:13 PM EST) -- Auto parts maker Visteon Corp. has won a bankruptcy court's approval to obtain up to $150 million in debtor-in-possession financing and to sell four manufacturing facilities to Haru Holdings LLC for more than $11 million.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware on Thursday granted the company's motions to approve the financing and sale agreement.

In its motion for DIP financing, Visteon and its affiliated debtors said the cash infusion would bolster the company's liquidity as the former Ford Motor...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.