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Court OKs Visteon's $2.3M Deal With Shareholders

Law360 (December 13, 2010, 8:24 PM EST) -- A bankruptcy court on Monday signed off on a deal in which Visteon Corp. will pay two shareholders $2.25 million to resolve their challenge of the firm’s confirmed reorganization plan.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved the agreement between Visteon and shareholders Mark Taub and Andrew Shirley, who argued that the court’s confirmation of the plan gave members of the ad hoc equity committee, but not "ordinary shareholders" in a separate class, the right to buy a potentially...
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