Opposition To Dana Deal With Unions Mounts

Law360, New York (July 20, 2007, 12:00 AM EDT) -- Another Dana Corp. creditor, Brandes Investment Partners LP, has joined the fight against a deal between the bankrupt auto parts maker and its largest unions, the United Steel Workers and the United Auto Workers.

In a motion filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, Brandes argued that the motion in support of the deals doesn't provide relevant information about anticipated distributions for equity security holders.

In opposing the agreements, Brandes, which was a member of the disbanded official committee...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.