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Meridian Proposes Fourth Amended Plan

Law360 (September 8, 2006, 12:00 AM EDT) -- Meridian Automotive Systems Inc. notched its fourth amended reorganization plan on Friday after the parts maker had to scrap its earlier exit plan this month following a sharp decline in production at U.S. vehicle manufacturers.

Although Meridian’s third amended plan was approaching confirmation, the Michigan company had to cancel it because the $375 million exit package was too expensive, according to company officials.

"The company's emergence from Chapter 11 pursuant to our plan with less debt and increased liquidity will generate increased customer, supplier and employee...
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