(Bloomberg) -- Dura Automotive Systems Inc., a
bankrupt maker of car parts, outlined a plan of reorganization that
would pay nothing to investors holding subordinated bonds worth
$560.7 million.
Under the proposal, filed yesterday in U.S. bankruptcy court
in Wilmington, Delaware, senior debt holders would get a stake in
the company and other creditors will be given stock in exchange for
agreeing to dismiss their claims. Holders of 9 percent subordinated
notes maturing in 2009 get nothing, according to court documents.
Read more at Bloomberg Bonds News
bankrupt maker of car parts, outlined a plan of reorganization that
would pay nothing to investors holding subordinated bonds worth
$560.7 million.
Under the proposal, filed yesterday in U.S. bankruptcy court
in Wilmington, Delaware, senior debt holders would get a stake in
the company and other creditors will be given stock in exchange for
agreeing to dismiss their claims. Holders of 9 percent subordinated
notes maturing in 2009 get nothing, according to court documents.
Read more at Bloomberg Bonds News
No comments:
Post a Comment