Dura Files Amended Reorganization Plan

Law360, New York (May 9, 2008, 12:00 AM EDT) -- Bankrupt auto parts maker Dura Automotive continues to edge closer to emerging from bankruptcy, most recently filing an amended Chapter 11 plan that lowers the value of the company from $600 million to $495 million.

The amended reorganization plan makes a series of minor changes to previously filed plans, the company said in the memorandum that accompanied that plan submission.

The biggest change made by the new plan is the satisfaction of the second-lien facility claims in equity rather than in cash.

“The nature of the...
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