Auditors Raise Doubts Over Dura Automotive's Future

Law360, New York (March 29, 2007, 12:00 AM EDT) -- Auditors for Dura Automotive Systems have raised doubt that the troubled car parts supplier can continue to operate as a going concern, but a source with the company shrugged off the dire statement Thursday.

In a filing with the U.S. Securities and Exchange Commission Wednesday the company said its annual financial report would not only be late, but would include a paragraph by accounting firm Deloitte & Touche LLP that "substantial doubt" existed as to Dura’s future.

However, a source said Thursday that despite the caution...
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.