Aleris Agrees To Delay DIP Hearing For Creditors

Law360, New York (March 12, 2009, 12:00 AM EDT) -- Aluminum recycling conglomerate Aleris International Inc. has agreed to postpone a hearing on the company’s debtor-in-possession financing to allow unsecured creditors more time to review the terms of the loan, the company said Thursday.

Objections to the structure of Aleris' DIP financing plan have been filed in the U.S. Bankruptcy Court for the District of Delaware by creditors Babson Capital Management LLC, GSC Group, J. Aron & Co. and TPG Partners.

Babson and GSC argue in a joint-objection that the plan falls short of adequately protecting...
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