OK'd Cooper-Standard Plan Trims Debt By $650M

Law360, New York (May 12, 2010, 1:51 PM EDT) -- Bankrupt automotive components maker Cooper-Standard Holdings Inc. won court confirmation Wednesday of a reorganization plan that would reduce the company's debt from about $1.1 billion to $480 million, allowing the firm to exit bankruptcy protection by the end of May.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware issued the order after all the creditors who cast ballots on the plan voted in favor of its confirmation, the company said in a statement.

"Confirmation of the plan is one of...
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