Visteon Wins Exclusivity Over Shareholder Objections

Law360, New York (May 12, 2010, 5:06 PM EDT) -- A bankruptcy judge has extended automotive parts Visteon Corp.'s exclusive right to file a reorganization plan, over the objections of an ad hoc committee of its equity holders and Aurelius Capital Master Ltd., which had hoped to offer a rival plan.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware ruled Wednesday that the extension was “in the best interest of the debtors' estates, their creditors and other parties in interest.”

The extension — Visteon's third — gives the company an...
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