Creditors Object To Collins & Aikman Sale

Law360, New York (May 21, 2007, 12:00 AM EDT) -- Collins & Aikman Corp. may encounter trouble selling off its carpet and acoustics business after the company’s creditors filed five different objections against the move on Friday.

The company first proposed the sale in April, saying that with the assistance of its advisors, Collins & Aikman had “worked diligently during these Chapter 11 cases to maximize the value of the carpet and acoustics business.”

In a filing in the U.S. Bankruptcy Court for the District of Eastern Michigan, the company said that International Automotive Components Group...
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