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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.