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Indiana AG Balks At Dana's Reorganization Plan

Law360 (November 28, 2007, 12:00 AM EST) -- Dana Corp. may have secured $2 billion in exit financing, but that did not stop the Indiana attorney general from protesting the bankrupt auto parts supplier's latest reorganization proposal amid fears that the plan will tie the hands of the state's environmental agency.

On Tuesday, Attorney General Steve Carter filed an objection to Dana's third amended plan on behalf of the Indiana Department of Environmental Management, arguing that the proposal could unfairly restrict the Hoosier state's ability to force the Ohio-based company to rectify certain environmental...
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