Creditors Committee Backs Tower Auto's Plan

Law360, New York (June 25, 2007, 12:00 AM EDT) -- The official committee of unsecured creditors in Tower Automotive Corp.'s ongoing bankruptcy urged all the unsecured creditors in the case to accept the company's Chapter 11 plan in a letter on Friday.

“The Creditors' Committee supports the plan because the plan represents a favorable outcome for the plan's unsecured creditors in light of the circumstances of the debtor's bankruptcy cases and the automotive industry generally,” the letter said.

It stressed that the committee had been extensively involved in working out the plan, and that it had...
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