Tower Creditors Oppose Bid For Ninth Extension

Law360, New York (January 29, 2007, 12:00 AM EST) -- The unsecured creditors of Tower Automotive Inc. have filed two objections, taking issue with a proposed class action settlement and the debtor’s bid to extend its exclusive rights to file and solicit support for a restructuring plan for the ninth time.

The official committee of unsecured creditors’ objection to Tower’s bid for an exclusivity extension, filed Friday, urges the court to deny the debtor’s exclusivity motion, arguing that no cause exists for a further extension.

A hearing on Tower’s latest exclusivity motion is scheduled for Jan....
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