Wolverine Files For Ch. 11, Plans To Exit Within 90 Days

Law360, New York (November 1, 2010, 12:09 PM EDT) -- Wolverine Tube Inc., which makes copper tubing and other products for the heating and air conditioning industry, and several affiliates filed prearranged Chapter 11 petitions Monday after striking a deal with noteholders to restructure the company’s debt.

Wolverine filed its petition and a slew of first-day motions in the U.S. Bankruptcy Court for the District of Delaware, claiming that volatility in copper prices, increased funding obligations for its pension plan and high interest on $131 million of senior secured notes forced the company into bankruptcy....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.