Court Approves Meridian’s Reorganization Plan

Law360, New York (December 7, 2006, 12:00 AM EST) -- A bankruptcy court has approved the reorganization plan of embattled auto parts maker Meridian Automotive Systems Inc., paving the way for the company to completely emerge from Chapter 11 protection by the end of December.

The U.S. Bankruptcy Court for the District of Delaware gave the green light to the plan at a hearing on Wednesday. The plan will take effect as soon as the company’s $175 million exit funding agreement is formally in place.

“We will emerge as a stronger company with significantly less debt...
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