Tight Credit Spurs Bankrupt Dura's Plea For Extension

Law360, New York (January 11, 2008, 12:00 AM EST) -- Car parts maker Dura Automotive Systems Inc. has asked a bankruptcy court for an order extending its exclusivity rights under Chapter 11 until the end of June, citing problems securing exit financing.

Thursday's amended motion in the U.S. Bankruptcy Court for the District of Delaware is the bankrupt auto maker's third request for extra time to file a reorganization plan free from competing proposals by creditors.

Dura filed its first motion to extend the deadline for submitting a plan and soliciting approval in late May, 2007....
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