Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Introduction
Last week, Visteon Corporation began filing preference complaints against hundreds of current and former creditors of the company. This post will look briefly at the nature of Visteon’s business, why the company filed for bankruptcy, as well some of the likely “next steps” now that the company has filed its preference complaints.
The Bankruptcy…
Introduction
Visteon Corporation filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware on May 28, 2009. According to Visteon’s Declaration in Support of First Day Motions (the “Declaration”), Visteon is one of the largest suppliers of automotive components to original equipment manufacturers (“OEM”) worldwide. With manufacturing and engineering facilities in…
