Joining Revstone In Ch. 11, Unit Plans $25M Sale

Law360, Wilmington (July 23, 2013, 9:33 PM EDT) -- Auto parts manufacturer Metavation LLC joined parent Revstone Industries LLC in Delaware bankruptcy court Monday, filing for Chapter 11 with a $25 million stalking horse agreement in hand to to sell the bulk of its assets to industry rival Dayco.

The fifth Revstone entity to seek court protection in Delaware, Metavation listed assets and liabilities of between $10 million and $50 million on its voluntary petition.

Metavation is looking to wrap up its proposed Section 363 sale in little more than a month, and has lined...
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