Dana’s Unsecured Creditors Enlist Court’s Help

Law360, New York (May 23, 2006, 12:00 AM EDT) -- Scrambling to determine whether they should file a formal complaint, the unsecured creditors of beleaguered Dana Corp. are seeking court permission to investigate whether the auto supplier's lenders exercised unfair influence over the company’s bankruptcy filing and financial arrangements.

On Friday, Dana's official committee of unsecured creditors asked to apply certain provisions of the Bankruptcy Code in an attempt to force Dana's lenders to turn over relevant documents and agree to in-person interviews.

“The committee needs to understand, among other things, the circumstances surrounding the debtors’...
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.