GPX's Proposed Plan Will Wrap Up Ch. 11 Liquidation

Law360, New York (April 23, 2010, 4:36 PM EDT) -- GPX International Tire Corp. and its unsecured creditors have filed their proposed disclosure statement and reorganization plan for the bankrupt tire manufacturer, seeking to liquidate what's left of the company after having sold off most assets in three separate sales.

The disclosure statement was filed Thursday in the U.S. Bankruptcy Court for the District of Massachusetts to continue the "orderly liquidation" of GPX's remaining assets.

Malden, Mass.-based GPX had previously sold off most of its assets for a total of about $88 million, which will be...
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