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.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.