Triple Victory Propels Remy Closer To Ch. 11 Exit

Law360, New York (November 21, 2007, 12:00 AM EST) -- Remy International Inc. on Tuesday won approval of its reorganization plan, its disclosure statement and an $18.5 million asset sale, leaving the auto parts maker in better standing to make good on its boasts that it could emerge from Chapter 11 in under two months.

Under the first of two orders Judge Kevin Carey of the U.S. Bankruptcy Court for the District of Delaware handed down, the Anderson, Ind.-based company, which was spun off from General Motors Corp. in 1994, will sell back most of M...
To view the full article, register now.