MSD Performance Gets Nod For Ch. 11 Sale Plan, Funding

Law360, Wilmington (October 1, 2013, 3:49 PM EDT) -- A Delaware bankruptcy judge on Tuesday approved MSD Performance Inc.'s proposed bid-procedure and cash-collateral motions, allowing the high-performance auto parts maker to pursue a going-concern sale and fund the Chapter 11 process.

The official committee of unsecured creditors previously opposed both motions, but those objections had been resolved and the pleadings were being presented on a consensual basis, MSD attorney Thomas A. Howley told the court.

U.S. Bankruptcy Judge Peter J. Walsh signed off on the orders without comment following a hearing in Wilmington.

Texas-based MSD...
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