Dura Noteholders Take Their Fight Elsewhere

Law360, New York (October 8, 2007, 12:00 AM EDT) -- Unwilling to back down, some of the noteholders of Dura Automotive Systems Inc. have decided to appeal a bankruptcy court's decision to approve a controversial backstop rights agreement that would allow the supplier to allegedly eliminate the group's $500 million claim.

On Friday, the holders of Dura's 9% senior subordinated notes signaled their intention to take their case to the U.S. District Court for the District of Delaware, hoping to receive a different outcome from the one handed down last week by U.S. Bankruptcy Judge Kevin...
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.