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Objections To Dana's Reorganization Plan Pile Up

Law360 (November 29, 2007, 12:00 AM EST) -- Just a day after it inched one step closer to exiting Chapter 11 by securing $2 billion in exit financing, Dana Corp. was hit with objections to its joint reorganization plan from asbestos claimants and lead plaintiffs in securities litigation, among others.

On Wednesday, at least eight parties filed objections to Dana’s third amended joint plan of reorganization in the U.S. Bankruptcy Court for the Southern District of New York. The objectors, which included lead plaintiffs involved in securities litigation against Dana, the ad hoc committee...
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