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Welcome to the DURA Automotive MediaRoom |
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04 April 2008
Court Approves DURA Automotive Systems' Revised Disclosure Statement
ROCHESTER HILLS, Mich., April 3, 2007— DURA Automotive Systems, Inc. (OTC: DRRAQ) today announced that the U.S. Bankruptcy Court for the District of Delaware has approved the company’s revised Disclosure Statement, solicitation procedures and creditor ballots. In a hearing that took place today, the Court determined that DURA’s revised Disclosure Statement contains the necessary information to enable creditors to vote on DURA’s revised Plan of Reorganization ("the Plan"). (more)
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10 March 2008
DURA Automotive Systems Files Revised Plan of Reorganization
Company Reaches Agreement with All Major Creditor Constituencies and Intends to Proceed on an Expedited Basis to Emerge from Chapter 11
ROCHESTER HILLS, Mich., March 7, 2008— DURA Automotive Systems, Inc. (OTC: DRRAQ) today announced that it has filed its revised Chapter 11 Plan of Reorganization (the “Plan”) with the U.S. Bankruptcy Court for the District of Delaware. The Plan filed today reflects a consensual agreement among DURA’s key creditor constituencies. DURA intends to proceed on an expedited basis to obtain Court approval of the Plan and emerge from Chapter 11.
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05 December 2007
DURA Automotive Announces Sale of Jack and Tool Kit Business to Autoline Industries
ROCHESTER HILLS, Mich., December 5, 2007—DURA Automotive Systems, Inc. (OTC: DRRAQ) announced today that it has completed the sale of its North American jack and tool kit business to automotive supplier Autoline Industries Limited (BSE: 532797). The announcement came following approval by the Court to move forward with the transaction. DURA had earlier announced the intent to market the business as part of a corporate restructuring program. (more)
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08 November 2007
Court Approves DURA's Agreement in Connection With The Exit Financing Process
Confirmation Hearing Scheduled for Dec. 6, 2007
DURA Remains on Track to Emerge from Chapter 11 in the Fourth Quarter of 2007
ROCHESTER HILLS, Mich., Nov. 8, 2007— DURA Automotive Systems, Inc. (OTC: DRRAQ) today announced that the U.S. Bankruptcy Court for the District of Delaware has approved the company’s engagement and fee agreement with Goldman Sachs Credit Partners, L.P. and Barclays Capital in connection with the arrangement of approximately $425 million in credit facilities to be used to fund DURA’s exit from Chapter 11 in the fourth quarter in 2007 and thereafter provide for the Company’s ongoing working capital financing needs. DURA’s Plan of Reorganization is predicated in part on funding from these credit facilities. (more)
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04 October 2007
Court Approves DURA Automotive Systems' Disclosure Statement
ROCHESTER HILLS, Mich., Oct. 3, 2007— DURA Automotive Systems, Inc. (OTC: DRRAQ) today announced that the U.S. Bankruptcy Court for the District of Delaware has approved the company’s Disclosure Statement, solicitation procedures and creditor ballots. In a hearing that took place today, the Court determined that DURA’s Disclosure Statement contains the necessary information to enable creditors to vote on DURA’s Plan of Reorganization. (more)
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05 September 2007
Insight Equity Acquires Atwood Mobile Products
Dura Completes Sale of Division to Private Equity Firm for $160.2 million
SOUTHLAKE, Texas, and ROCHESTER HILLS, Mich., Sept. 4, 2007 – Insight Equity I L.P. (“Insight”), the Dallas, Texas-area private equity firm, and DURA Automotive Systems, Inc. (OTC: DRRAQ) announced the close of the sale of DURA’s Atwood Mobile Products division to Insight Equity I L.P for $160.2 million. Insight made the acquisition through Atwood Mobile Products LLC (f/k/a Atwood Acquisition Co., LLC), the investment vehicle Insight created for the acquisition of Atwood, the nation’s leading independent manufacturer of gas appliances, windows, doors, electronics and hardware to the Recreation Vehicle (RV) industry.
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04 September 2007
DURA Automotive Names Tim Trenary Chief Financial Officer
ROCHESTER HILLS, Mich., September 4, 2007 - DURA Automotive Systems, Inc. (OTC: DRRAQ), today announced that C. Timothy Trenary, 51, will join the company as vice president and chief financial officer, effective September 16, 2007. He succeeds David L. Harbert, a Tatum LLP Partner, who has served as DURA's interim chief financial officer during restructuring. Harbert will remain with DURA through September to ensure a smooth transition. (more)
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22 August 2007
DURA Automotive Systems Files Plan of Reorganization and Disclosure Statement
ROCHESTER HILLS, Mich., August 22, 2007— DURA Automotive Systems, Inc. (OTC: DRRAQ) today announced that it has filed its Plan of Reorganization (the “Plan”) and the related Disclosure Statement with the U.S. Bankruptcy Court for the District of Delaware. The Plan and Disclosure Statement provide details on how DURA intends to treat more than $1.3 billion of claims and emerge from Chapter 11 protection in the fourth quarter of 2007. (more)
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