Bankrupt Coda Gets Preliminary Nod For WARN Settlement

Law360, Wilmington (October 9, 2013, 5:08 PM EDT) -- A Delaware bankruptcy judge gave the preliminary nod Wednesday to a settlement defunct electric carmaker Coda Holdings Inc. reached with former employees suing it for allegedly improper layoffs, but a fight over final approval may be brewing with the debtor's private equity buyer, a unit of Fortress Investment Group LLC.

At a hearing in Wilmington, the buyer's attorney, Matthew B. Lunn of Young Conaway Stargatt & Taylor, said the company was considering whether to protest the deal when it comes up for final approval later this...
To view the full article, register now.