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Meridian Gains Approval Of $175M Exit Loan

Law360 (November 29, 2006, 12:00 AM EST) -- A bankruptcy court has cleared the way for Meridian Automotive Systems Inc. to enter into an agreement with Deutsche Bank AG subsidiaries that will help steer the car parts maker out of Chapter 11 with $175 million in financing.

Meridian won approval Wednesday from the U.S. Bankruptcy Court for the District of Delaware after it agreed to keep creditors informed about what the banks are charging for financing fees.

The Michigan-based parts maker has long resisted disclosing the total cost of its exit loan to the...
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