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Noteholders Object To Dura's Disclosure Statement

Law360 (September 20, 2007, 12:00 AM EDT) -- Certain noteholders have objected to Dura Automotive Systems Inc.'s disclosure statement, saying the financial information it contains is both flawed and inadequate.

In court documents filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware, the holders of Dura's 9% senior subordinated notes took issue with a backstop rights purchase agreement that will allegedly eliminate their $500 million claim.

“Despite assurances in connection with the approval of the backstop rights purchase agreement that the financial justifications for the valuation assumptions upon which the agreement...
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