Garrett Motion, Equity Holders Head For Ch. 11 Plan Mediation

Law360 (February 22, 2021, 6:03 PM EST) -- Garrett Motion, a pair of its investors and an equity holder committee told a New York bankruptcy judge they are prepared to start mediation this week on Garrett's Chapter 11 plan, with the automotive technology company saying the time for a deal will run out by next week.

At a status conference conducted remotely, Garrett and private equity investors Centerbridge Partners and Oaktree Capital told U.S. Bankruptcy Judge Michael Wiles they are willing to go forward on Wednesday with a mediator he had named, but that one way or another the confirmation process for Garrett's plan has to restart next week....

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