Visteon's Trade Claimants Seek Their Own Committee

Law360, New York (June 11, 2010, 1:48 PM EDT) -- The holders of trade claims against bankrupt auto parts supplier Visteon Corp. are asking for their own committee, saying they are not being adequately represented by the official committee of unsecured creditors.

In a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware, the trade claim holders said the creditors committee supported a third amended Chapter 11 reorganization plan that would cap their recovery at 50 percent while giving similarly situated creditors a 100 percent recovery.

Visteon's valuation will clearly be an...
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