WILMINGTON, Del. (AP) — A federal judge has confirmed auto parts supplier Visteon's reorganization plan, clearing the way for the company's emergence from bankruptcy.
Visteon Corp., based in Van Buren Township, Michigan, said Tuesday that it expects to end its Chapter 11 bankruptcy Oct. 1. The company filed its case in May 2009 as the auto industry was battered by a sharp downturn and scarce credit.
Visteon shareholders and creditors have already approved the deal. But the company still had to settle with thousands of retirees over benefits.
