Court Sets Remy’s Ch. 11 Case On Fast Track

Law360, New York (October 10, 2007, 12:00 AM EDT) -- Auto parts supplier Remy International Inc. is already cruising along in its Chapter 11 reorganization after a bankruptcy judge signed off on major financing proposals that will help fuel its prepackaged case.

Anderson, Ind.-based Remy secured approval from the U.S. Bankruptcy Court for the District of Delaware on Wednesday to accept a $160 million loan from a Barclays PLC subsidiary and start the sale of $85 million in stock for the reorganized company.

Judge Kevin Carey approved the financing requests less than two days after the...
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