Court Green-Lights Dura's Disclosure Statement

Law360, New York (April 4, 2008, 12:00 AM EDT) -- The Delaware court overseeing Dura Automotive Systems Inc.'s Chapter 11 proceedings has approved the bankrupt auto parts supplier's revised disclosure statement, setting the stage for a confirmation hearing on Dura's reorganization plan in May.

U.S. Bankruptcy Judge Kevin Carey signed off Thursday on an order saying that Dura's disclosure statement contains adequate information to enable creditors to vote on the company's Chapter 11 plan and setting a confirmation hearing for May 13, 2008.

Getting the disclosure statement approved means that Dura can send its plan and...
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