Tower Settles Michigan Tax Claims

Law360, New York (November 13, 2007, 12:00 AM EST) -- The trust representing Tower Automotive Inc. following its July emergence from Chapter 11 bankruptcy has resolved the state of Michigan's tax claims against it.

Tower's post-consummation trust and the Michigan Department of Treasury entered a joint stipulation Friday in the U.S. Bankruptcy Court for the Southern District of New York reducing and fixing three central tax-related claims.

The stipulation, which was docketed Monday, still requires court approval. It is scheduled for presentment before the court on Nov. 26.

The three claims are all to be classified...
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