Dana's Disclosure Statement Irks Iowa's Taxman

Law360, New York (October 8, 2007, 12:00 AM EDT) -- The Iowa Department of Revenue has filed an objection to Dana Corp.'s disclosure statement, urging the bankruptcy court overseeing Dana's Chapter 11 proceedings not to approve the auto parts maker's disclosure statement unless it is amended to provide for interest on disputed tax claims.

The Iowa Department of Revenue filed its objection on Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The IDR said it filed a proof of claim against the Toledo, Oh.-based auto parts supplier for corporation income taxes...
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