Retirees Suspect Dana Of Hiding True Finances

Law360, New York (January 23, 2007, 12:00 AM EST) -- Non-union retirees of Dana Corp. say they suspect the bankrupt auto supplier of hiding financial information in order to eliminate retiree health and welfare benefits.

The retirees’ allegations come as a bankruptcy judge on Wednesday authorized Dana to borrow an additional $200 million for its reorganization plan.

In documents filed Tuesday in United States Bankruptcy Court for the Southern District of New York, a committee that represents Dana’s non-union retirees said they “should not have to wrestle to obtain” access to so-called “Hellweek” documents from 2005...
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