Dana Unions Take Issue With Sale

Law360, New York (February 12, 2007, 12:00 AM EST) -- A pair of labor unions has objected to the $157 million sale of bankrupt Dana Corp.’s engine hard parts business, saying buyer Mahle GmbH might not honor retiree benefits.

In a joint statement filed Thursday with the U.S. Bankruptcy Court in Manhattan, the United Auto Workers and the United Steelworkers of America argued that the asset purchase agreement only partially satisfied the terms of their collective bargaining agreements with Dana.

As a result, they want Judge Burton Lifland to withhold the approval of the sale until...
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