Auto Parts Maker Remy Files Ch. 11 Petition, Plan

Law360, New York (October 9, 2007, 12:00 AM EDT) -- Auto parts maker Remy International Inc. filed a joint Chapter 11 reorganization plan with the bankruptcy court Tuesday, seeking approval of a prepackaged plan that has already received support from the company’s noteholders.

Remy and several of its U.S. affiliates filed voluntary petitions for bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on Monday, promising the proposed reorganization plan will reduce the company’s debt by $360 million and repay secured creditors in full. The next day, the company filed a number of...
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