Garrett Motion Favors Mediation Over Competing Ch. 11 Plans

Law360 (February 16, 2021, 7:28 PM EST) -- Bankrupt automotive technology company Garrett Motion Inc. told a New York judge Tuesday that it wanted to delay a hearing over its plan disclosure statement so that it could engage in negotiations with the official committee of equity security holders and potentially submit to mediation over outstanding issues.

After hearing a recitation of concerns from U.S. Bankruptcy Judge Michael E. Wiles over Garrett's proposed Chapter 11 plan and a competing plan from the equity committee, debtor attorney Andrew G. Dietderich of Sullivan & Cromwell LLP said the case could benefit from taking negotiations with the committee and plan sponsors offline in...

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