March 23, 2016
Auto parts conglomerate Revstone Industries LLC won a Delaware federal bankruptcy judge's approval Tuesday for a deal ending its adversary proceeding against Netherlands-based plastic injection molding manufacturer Schoeller Arca Systems Inc., which reduces the creditor's $15 million claim to $2.1 million.
April 20, 2015
Bankrupt auto parts conglomerate Revstone Industries LLC on Friday told a Delaware judge that it shouldn't have to cover unpaid employee health insurance claims for Ascalon Enterprises LLC, a company owned by Revstone's former chairman, saying "at no point" did it agree to assume liabilities for the plan.
March 23, 2015
A Delaware bankruptcy judge agreed Monday to greenlight the Chapter 11 plan for auto parts conglomerate Revstone Industries LLC, which includes a deal to resolve a nearly $100 million Pension Benefit Guaranty Corp. claim, laying the exit runway for what has been an arduous and contentious case.
March 03, 2015
Auto parts conglomerate Revstone Industries LLC and several units made a final push late Monday for confirmation of their joint Chapter 11 plan, which includes a major settlement of a nearly $100 million Pension Benefit Guaranty Corp. claim, to start bringing the long and contentious case to a close.
February 13, 2015
Revstone Industries LLC's committee of unsecured creditors asked a Delaware federal bankruptcy judge on Thursday to pitch seven claims, worth $85 million, made by the auto parts conglomerate's nondebtor parent Ascalon Enterprises LLC, saying the claims are undocumented, untrue and barred given the pendency of adversary proceedings.
January 07, 2015
Bankrupt auto supplier Revstone Industries LLC made several moves Tuesday in Delaware bankruptcy court, filing suits to recoup funds from a South Carolina city and Anderson-Cook Inc., and unveiling a $2 million settlement with a hedge fund over claims it helped Revstone's founder hide assets in his children's trust funds.
October 07, 2014
A Delaware bankruptcy judge on Monday granted Revstone Industries LLC's request to release to its estate $6 million held over from the $13 million sale of equity in a Canadian unit despite objections from General Motors Co. that the debtor was unraveling a settlement that allowed the deal to close.
September 24, 2014
General Motors Co. balked Wednesday at Revstone Industries LLC's request to have $6 million held in escrow from the sale of the equity in a Canadian unit released to the bankruptcy estate, arguing the move would unravel a settlement with the auto giant that allowed the transaction to close.
July 22, 2014
Bankrupt auto parts conglomerate Revstone Industries LLC is accusing its founder of funneling assets into trusts he controls in order to avoid the reach of Revstone and its creditors, according to documents filed Tuesday in Delaware bankruptcy court.
July 08, 2014
Two subsidiaries of auto parts conglomerate Revstone Industries LLC filed reorganization plans in Delaware bankruptcy court Monday, further positioning the parent company to exit Chapter 11.