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Tower Automotive Gets Extension On Chapter 11 Plan

Law360 (January 27, 2006, 12:00 AM EST) -- A U.S. bankruptcy court has granted auto parts maker Tower Automotive’s request for a 90-day extension of its reorganization plan deadline, allowing one of the numerous auto parts makers mired in bankruptcy proceedings to breathe a sigh of relief.

The deadline for the company’s reorganization plan has been pushed forward until April, which gives Tower until June to seek creditor approval.

In filing for the extension, Tower cited the complexity of the case. The proceedings involve 50,000 creditors, assets of $788 million and liabilities of $1.3...
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