Court Affirms Tower's Union Deals

Law360, New York (December 20, 2006, 12:00 AM EST) -- A federal judge has upheld a bankruptcy court’s decision to approve two settlements between Tower Automotive Inc. and unions representing the bankrupt auto parts maker’s workers and retirees, despite objections from Tower’s unsecured creditors committee.

U.S. District Judge Victor Marrero on Friday affirmed the bankruptcy court’s orders that gave the settlements a green light, and shot down the official committee of unsecured creditors’ appeal.

On May 22, 2006, the bankruptcy court signed off on proposed settlement between Tower and the unions representing employees and retirees from...
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