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Auto Parts Supplier Fights Ticking Clock

Law360 (June 30, 2006, 12:00 AM EDT) -- Auto-parts supplier Collins & Aikman Corp. is seeking its fourth extension for filing its Chapter 11 plan, citing a large and complex bankruptcy case and the potential sale of pieces of its business.

The company wants the court to give it until September 27 to file its reorganization plan. Collins & Aikman said it’s pursuing a dual-track plan of reorganization and the sale of assets.

Company officials are in the midst of completing a term sheet with a possible stalking horse bidder, and evaluating the potential...
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