Lear to file for bankruptcy protection
Auto seating supplier Lear Corp said on Wednesday it would file for Chapter 11 bankruptcy protection in a reorganization supported by key secured lenders and bondholders and that it had obtained US$500-million in bankruptcy financing.
Lear Corp. is clear to emerge from bankruptcy following the approval of its plan of reorganisation from the US Bankruptcy Court of the Southern District of New York, a 5 Nov company statement said.