Fire Engine Builder Vows Speedy Exit From Ch. 11

Law360, New York (January 29, 2008, 12:00 AM EST) -- A prime, privately owned manufacturer of emergency vehicles entered bankruptcy Monday, declaring at least $150 million in secured debts and professing intentions to be fully reorganized within 90 days.

American LaFrance LLC filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the District of Delaware, estimating both assets and liabilities over $100 million and somewhere between 1,000 and 5,000 creditors.

The company, based in Summerville, S.C., builds fire trucks and other emergency services vehicles.

Company officials vowed to file a reorganization plan shortly,...
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