Equity Group Presses For Examiner In Visteon Case

Law360, New York (April 6, 2010, 3:33 PM EDT) -- A group that owns more than 8 percent of stock in Visteon Corp. is seeking the appointment of an examiner in the auto parts manufacturer’s Chapter 11 case to investigate whether a new reorganization plan could be fashioned that is more favorable to equity holders.

The ad hoc committee of equity holders filed a bid with the U.S. Bankruptcy Court for the District of Delaware on Friday, claiming that an examiner is necessary because Visteon is squandering “significant value” and proposing a plan that does not...
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