Bondholder Cries Foul On Dura Disclosure Statement

Law360, New York (March 31, 2008, 12:00 AM EDT) -- An investment bank that says it and its customers own more than $100 million in Dura Automotive Systems Inc. bonds has objected to Dura's revised disclosure statement, saying it doesn't allow claim holders to decide whether Dura's proposed restructuring plan is a better alternative than liquidation.

J.W. Korth and Co. filed its objection to Dura's disclosure statement Friday, saying it represented an ad hoc committee of creditors. The objection seeks access to Dura's books and records and permission to complete a new liquidation analysis with the...
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