- 4 December 2006 -
Meridian rearranges hearing for plan of reorganisation

MERIDIAN AUTOMOTIVE Systems, a US supplier of composites to the automotive industry, has rescheduled its confirmation hearing for its plan of reorganisation from 29 November to 6 December. The postponement was requested by Meridian to give its creditor constituencies time to finalise agreements relating to the plan, which the company still hopes to implement in December. 

A hearing took place on 29 November as planned for the approval of the financing commitment from Deutsche Bank to provide the $175 million exit financing to implement the plan of reorganisation.

“We remain on track to emerge from Chapter 11 by the end of the year,” says Richard E. Newsted, president and CEO at Meridian. “The many necessary elements for our plan to become effective are falling into place thanks to the focus and hard work of the Meridian team, our professional advisers, Deutsche Bank and the strong support of our major secured creditor classes, and the Official Committee of Unsecured Creditors.”

Meridian Automotive Systems Inc; www.meridianautosystems.com

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