Court Greenlights Dana's Disclosure Statement

Law360, New York (October 23, 2007, 12:00 AM EDT) -- The judge overseeing Dana Corp.'s Chapter 11 proceedings has approved the bankrupt auto part suppliers disclosure statement, as well as Dana's proposal for a backstop agreement, a representative for the company said on Tuesday.

The court found that Dana's disclosure statement contained adequate information, and scheduled a confirmation hearing on Dana's restructuring plan for Dec. 10, the spokesperson said, adding that the company will begin sending out plan solicitation materials in about a week.

Dana Corp. filed its second amended reorganization plan and disclosure statement on...
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