Dana Maneuvering Around New Bankruptcy Law

Law360, New York (March 17, 2006, 12:00 AM EST) -- Beleaguered auto parts manufacturer Dana Corp. has sought a court order that would prevent members of its creditors committee from sharing private information with creditors they represent—a move seen as an attempt to navigate around a new stipulation of the Bankruptcy Code.

Dana’s efforts are in response to a new provision in the Bankruptcy Abuse Prevention & Consumer Protection Act, which states that creditor committees are to give creditors they represent “access to information.”

The Toledo, Ohio-based company filed court documents on Wednesday arguing that it...
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