Bankruptcy Judge Approves $600,000 Deal Between Budd Co., Martinrea
(August 24, 2016, 7:37 AM EDT) -- CHICAGO — An Illinois federal bankruptcy judge approved a settlement July 28 under which Canadian automotive parts manufacturer Martinrea International Inc. will pay Chapter 11 debtor The Budd Co. Inc. $600,000 to resolve claims against each other, including an indemnification claim by Martinrea for an asbestos personal injury lawsuit (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).
(Order available. Document #48-160826-020R.)
Proof Of Claim
Budd filed a Chapter 11 petition in March 2014 in the U.S. Bankruptcy Court for the Northern District of...