Lynn Tilton’s Dura Files Bankruptcy so Tilton Can Buy it Back
Oct. 17, 2019, 7:10 AM; Updated: Oct. 17, 2019, 10:37 AM
Distressed-debt financier Lynn Tilton put Dura Automotive Systems LLC into bankruptcy with plans to buy the automobile parts company back at a court-approved auction.
The filing in Nashville, Tennessee, comes as Tilton continues several years-long court battles with creditors for ownership of many of the companies she controls through various funds and holding companies. One of those entities, Zohar III Corp., is also in bankruptcy.
Tilton blamed Dura’s filing on one of those ongoing disputes, saying the fight has blocked the company from getting the financing it needs to grow. Bond insurer MBIA Inc.has been leading the effort to...
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http://news.bloomberglaw.com/bankruptcy-law/tiltons-dura-automotive-systems-files-for-chapter-11-bankruptcy

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