Bankrupt Revstone Unit Unveils Pact With Chrysler, GM

Law360, Wilmington (July 30, 2013, 8:10 PM EDT) -- Revstone Industries LLC's bankrupt subsidiary on Monday unveiled details about a sale support agreement with General Motors Co. and Chrysler Group Inc. that is designed to keep the debtor in business as the days count down to its proposed $25 million stalking horse sale to Dayco.

Metavation Inc.'s bankruptcy court motion did not include all of the precise figures comprising the agreement, but did outline the general idea behind the proposed pact among the debtor, Revstone, some of its nondebtor affiliates and the automakers.

The proposed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.