Industry / United States
Lear Files Reorganisation Plan
August 2009 | Company BriefNews: According to Reuters, US auto-parts supplier Lear has filed a reorganisation plan in the US bankruptcy court advancing its deal to restructure about US$3.6bn of debt burden. The supplier, expected to exit bankruptcy protection in 2009, has stated in its proposed plan that its lenders will convert US$1.6bn plus interest into new term loans. Also, US$2.0bn of unsecured loans and notes will be converted into common stock and warrants.
To read the full article, please choose one of the following options:
Subcribers please log in
