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Dura Wins Extension To Drive Itself Out Of Bankruptcy

Law360 (March 21, 2007, 12:00 AM EDT) -- Dura Automotive Systems Inc. has won permission to stay in the driver's seat of its Chapter 11 organization plan, after a bankruptcy judge extended the troubled auto parts company’s exclusivity period to May 23.

The company had asked for more time because its “operational restructuring initiatives” had occupied “virtually all” the time of its top executives.

Dura announced its plan to close 10 plants worldwide and move them to so-called “lower-cost” or “best-in-cost” locations in February 2006, as part of the company’s restructuring plan.

“Together these...
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