Visteon Looks To Ditch Contaminated Property

Law360, New York (November 20, 2009, 12:35 PM EST) -- Bankrupt auto parts maker Visteon Corp. is seeking to sell a contaminated piece of land back to an Indiana city, looking for relief from the financial obligations connected to the property.

On Thursday, Visteon filed the motion in the U.S. Bankruptcy Court for the District of Delaware to sell certain real property in Connersville, Ind., back to the city, thereby relieving it of any environmental obligations and liabilities.

“Simply put, given the debtors’ environmental obligations, the property’s inherent marketability issues, and the fact that the property...
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