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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.