Collins & Aikman's Ch. 11 Plan Approved

Law360, New York (July 12, 2007, 12:00 AM EDT) -- A federal judge approved bankrupt auto parts maker Collins & Aikman Corp.'s amended Chapter 11 plan after a hearing Thursday, overruling the final two objections to the plan that remained, according to Collins & Aikman spokesperson David Youngman.

Collins & Aikman filed its amended plan in the U.S. Bankruptcy Court for the Eastern District of Michigan Monday for the fourth time. The plan, the product of two years of negotiation with creditors, was supported by the unofficial steering committee for the prepetition lenders, the creditors committee...
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