Hayes Lemmerz files plan of reorganization

May 1, 2003
Hayes Lemmerz International Inc has filed a plan of reorganization with the United States Bankruptcy Court for the District of Delaware. Filing of the

Hayes Lemmerz International Inc has filed a plan of reorganization with the United States Bankruptcy Court for the District of Delaware. Filing of the plan is a key step forward for the company in its efforts to emerge successfully from Chapter 11 proceedings under the US Bankruptcy Code.

This plan requires approval by creditors and final approval by the court before it can be implemented. The company noted that the plan could be modified before it is submitted to its creditors for approval. Hayes Lemmerz said it presently expects to emerge from bankruptcy sometime during the first half of 2003.

Hayes Lemmerz said it would seek to obtain listing of the new common shares on a national stock exchange, but that it could provide no assurance it would obtain such listing.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...

Fleet Industry Benchmarks: How does your fleet stack up?

Discover how your fleet compares to industry benchmarks and gain insights from a 2024 Benchmarking Report on maintenance spend, turnaround time, and more. Join us to identify ...

Build a Tolling Program to Manage Toll Fees and Risks

Fleets looking to effectively manage their operational costs should consider their tolling costs. Download the PrePass whitepaper, “Build a Tolling Program to Manage Toll Fees...

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...