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Appaloosa Tries To Throw Wrench In Dana's Union Deal

Law360 (July 10, 2007, 12:00 AM EDT) -- Days after reaching a settlement with two of its largest unions, Dana Corp. is now facing stiff opposition from the company's biggest stakeholder amid accusations that the bankrupt auto parts supplier has not provided enough information regarding the deal.

On Monday, Appaloosa Management LP filed an objection to Dana's tentative agreements with the United Steel Workers and the United Auto Workers, urging the U.S. Bankruptcy Court for the Southern District of New York to reject the proposed settlement due to a lack of information.

“Appaloosa is...
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