Parts Suppliers Pull Out Of GM Contracts

Law360, New York (April 26, 2006, 12:00 AM EDT) -- Bankrupt auto parts maker Collins & Aikman Corp. has asked a bankruptcy court for permission to change some of its contracts with General Motors, echoing the moves of several other struggling suppliers seeking to cut costs.

The contracts in question require Collins & Aikman to provide GM with cockpits, instrument panels and center consoles for its vehicles. In 2005, the two companies amended the contracts, so Collins & Aikman received better prices for the parts it supplied to GM.

Collins & Aikman has already changed several...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.