Dana Seeks Extension To File Chapter 11 Plan

Law360, New York (December 5, 2006, 12:00 AM EST) -- Dana Corp. filed a motion on Monday requesting an eight-month extension to file its Chapter 11 reorganization plan and win creditor support for it.

Although Dana’s debtors have attempted to analyze business operations and discover initiatives that could restructure deficient parts of the company, Dana’s latest motion revealed that the company needs more time for in-depth analyses.

“Given the magnitude of the task at hand, the debtors require additional time to effect their restructuring plan and to permit them to develop and negotiate a comprehensive plan...
To view the full article, register now.