US: Meridian Automotive closer to exiting Chapter 11
Meridian Automotive Systems has announced that the bankruptcy court controlling its affairs has approved its disclosure statement and proposed solicitation procedures, allowing the company to enter the final stages of its exit from Chapter 11.
Meridian will begin distributing balloting materials to all creditors in order to solicit their votes in support of its plan of reorganisation. The company anticipates a confirmation hearing on 29 November and that the plan will become effective on or about 11 December.
Meridian entered Chapter 11 in April 2006. It is a supplier of front and rear end modules, exterior thermoplastics and composites, lighting and interior systems to car and truck manufacturers.