Motor Coach Runs Over Unsecured Creditors

Law360, New York (September 17, 2008, 12:00 AM EDT) -- Just days after filing for Chapter 11, Motor Coach Industries International Inc. has already revealed that unsecured creditors will receive nothing in the bus maker's bankruptcy case.

On Tuesday, a company attorney admitted that while an agreement had been reached with secured creditors, those who fall into the unsecured category will be left high and dry.

"This plan does not provide a recovery to unsecured creditors," said lawyer Kenneth Ziman at a hearing in the U.S. Bankruptcy Court for the District of Delaware.

Motor Coach Industries...
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