Lear Says Ch. 11 Case Should Block Bid-Rigging Suits

Law360, New York (December 16, 2011, 9:13 PM EST) -- Lear Corp. on Friday defended its move to escape potentially massive antitrust litigation, telling a New York bankruptcy judge that the reorganized company's brief stint in Chapter 11 protection should shield it from dozens of class actions.

The automotive electronic systems maker filed for bankruptcy in July 2009, winning confirmation of its reorganization plan that November. Because potential claims against Lear were discharged when the plan was approved, Lear argues that it is too late now for plaintiffs in putative class actions to sue for a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.