Cooper-Standard To Settle Cooper Tire Suit For $18M

Law360, New York (March 26, 2010, 7:04 PM EDT) -- Bankrupt auto parts company Cooper-Standard Holdings Inc. and its official committee of unsecured creditors have reached a settlement agreement for the company to pay more than $17.6 million to Cooper Tire to resolve court proceedings in the United States and Canada.

Cooper-Standard asked the U.S. Bankruptcy Court for the District of Delaware to approve the settlement in a motion Wednesday, saying the dispute had already cost the company a significant amount in fees and expenses.

“These costs will increase significantly if a trial on the merits...
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