 |
December 11, 2007 |
|
|
|
 |
DANA CORP: Urges Bankruptcy Court to Disallow 1,064 Claims Dana Corp. asks the U.S. Bankruptcy Court for the Southern District of New York to disallow 1,064 claims, totaling US$52,663,000, because these claims are Asbestos Personal Injury Claims and will be reinstated under the Plan. The Asbestos Personal Injury Claims include: -- Roy Adair (Claim No. 12079 - US$200,000) -- Gregorio Aguirre (Claim No. 11968 - US$200,000) -- David Alber (Claim No. 12043 - US$200,000) -- John Alexander (Claim No. 11989 - US$200,000) -- Clarence Allen (Claim No. 12371 - US$200,000) -- Naomi Ammerman (Claim No. 12076 - US$200,000) -- Johnnie Apodaca (Claim No. 11992 - US$200,000) -- Linda Atchley (Claim No. 12372 - US$200,000) -- Joseph Baca (Claim No. 11938 - US$200,000) -- Haroldine Bartlett (Claim No. 11977 - US$200,000) -- Walter Becker (Claim No. 12311 - US$200,000) -- Joseph Boutot (Claim No. 11991 - US$200,000) -- Leonard Chavez (Claim No. 11964 - US$200,000) -- Lyle Covington (Claim No. 1227 - US$200,000) -- Claude Dawson (Claim No. 11985 - US$200,000) Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/ -- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. Dana has facilities in China in the Asia-Pacific, Argentina in the Latin-American regions and Italy in Europe. The company and its affiliates filed for chapter 11 protection on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). As of Aug. 31, 2007 the Debtors listed US$6,878,000,000 in total assets and US$7,551,000,000 in total debts resulting in a total shareholders' deficit of US$673,000,000. Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel to the Official Committee of Equity Security Holders. Stahl Cowen Crowley, LLC serves as counsel to the Official Committee of Non-Union Retirees. The Debtors filed their Joint Plan of Reorganization on Aug. 31, 2007. On Oct. 23, 2007, the Court approved the adequacy of the Disclosure Statement explaining their Plan. The Court has set Dec. 10, 2007, to consider confirmation of the Plan. (Dana Corporation Bankruptcy News, Issue No. 64; Bankruptcy Creditors' Service, Inc. 215-945-7000 FAX 215-945-7001) |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Europe. To receive the Full TCR-EUR please CLICK HERE.
