J.L. French Requests Approved Amid Protests

Law360, New York (March 23, 2006, 12:00 AM EST) -- Dismissing creditor objections, a federal bankruptcy judge has approved J.L. French Automotive Castings Inc.’s request to pay the parties involved in the auto suppliers’ Restructuring Support Agreement and Backstop Rights Offering.

The decision, handed down on Thursday, propels the company’s restructuring process one step further as the unsecured creditors’ complaints continue to fall on deaf ears.

J.L. French filed for Chapter 11 on Feb. 10, succumbing to the industry-wide financial malaise that has also felled Delphi and Tower Automotive, among others.

The Restructuring Support Agreement and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.