GPX Ch. 11 Liquidation OK'd, But Customs Spat Remains

Law360, New York (July 22, 2010, 12:08 PM EDT) -- A bankruptcy court has approved GPX International Tire Corp.'s Chapter 11 liquidation plan, though it has left the tire company's long-running duties dispute with U.S. Customs and Border Protection to be resolved in the Court of International Trade.

Judge Joan N. Feeney of the U.S. Bankruptcy Court for the District of Massachusetts approved the plan Monday, with the provision that the order did not release GPX from any liability to Customs.

The debtor filed its proposed disclosure statement and reorganization plan April 22, seeking to liquidate...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.