Meridian Files Third Chapter 11 Plan

Law360, New York (July 5, 2006, 12:00 AM EDT) -- Meridian Automotive Systems Inc. has filed its third amended Chapter 11 plan, touted by the company as a step toward regaining solvency and the culmination of a “consensual agreement” with major creditor groups.

Unrest among the bankrupt auto-parts maker’s creditors has hampered the Chapter 11 process since Meridian filed for bankruptcy protection on April 26, 2005.

"We are extremely pleased to have achieved a consensual plan supported by our major creditor constituencies,” said Richard Newsted, Meridian’s president and CEO. “This will enable us to emerge from...
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