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Auto Makers Oppose Federal-Mogul Plan

Law360 (June 18, 2007, 12:00 AM EDT) -- More than five years after asbestos claims crippled the company, auto parts maker Federal-Mogul Corp. was back in court again Monday to present its fourth amended reorganization plan amid controversy over one of its subsidiaries.

Ford Motor, DaimlerChrysler, and Volkswagen of America have raised objections to the part of the plan that covers Abex Friction Products, a brake-pads business formerly owned by manufacturer Cooper Industries Inc.

Cooper's plan to filter money into Federal-Mogul’s trust it would absolve it of all asbestos litigation, according to the company....
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