Car Parts Maker Contech Files For Ch. 11

Law360 (February 2, 2009, 12:00 AM EST) -- The latest auto parts maker to seek Chapter 11 protection, Contech LLC has filed for bankruptcy, citing its lenders' effective seizure of its operating cash spurring more than $5 million in bad checks.

Portage, Mich.-based Contech filed for bankruptcy protection Friday in the U.S. District Court for the Eastern District of Michigan, listing liabilities of $100 million to $500 million and assets in the same range.

The bankrupt auto parts maker is asking that the bankruptcy of related entities MAG Contech and Contech U.S. LLC be...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.