Dura Puts Off Its Exit Financing Bid

Law360, New York (December 13, 2007, 12:00 AM EST) -- Bankrupt Dura Automotive Systems Inc. said Thursday that it will postpone its attempt at securing exit financing because of “abnormally challenging credit market conditions.”

In a statement, Larry Denton, the chairman and chief executive officer the Michigan-based company, said the financing terms available in the current market are unacceptable.

“While the delay in exiting bankruptcy is regrettable, we are intent on achieving the most favorable financing terms possible so that Dura emerges from Chapter 11 with a significantly strengthened balance sheet to support its enhanced competitive...
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