Court approves Hayes Lemmerz International disclosure statement, plan of reorganization. (North America).Hayes Lemmerz International, Inc., Northville, Michigan Northville is a city located in the U.S. state of Michigan and a suburb in Metro Detroit. The population was 6,459 at the 2000 census. The city is equally divided between Oakland and Wayne Counties. The Oakland County portion is surrounded by the city of Novi. , announced that the Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the District of Delaware approved the company's amended disclosure statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc its plan of reorganization, keeping the firm's voluntary Chapter 11 reorganization on schedule. "We are delighted to commence 2003 with such a positive step towards our emergence," said Curtis J. Clawson, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Hayes Lemmerz. "Our customers employees and suppliers have been supportive of our reorganization efforts, and we're moving forward with many new initiatives that will further strengthen our firm." The plan of reorganization is subject to a vote of the various classes of constituents, confirmation by the bankruptcy court and the successful procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of exit financing. The firm is on target to emerge from Chapter 11 during the first half of 2003. Hayes Lemmerz is one of the world's leading suppliers of automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components. |
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