Partner Erika Morabito is quoted in a Law360
article, “GST AutoLeather Nears Deal on DIP Funding and Sale Plans
,” about the status of the bankrupt vehicle upholstery maker’s plans to sell off its assets and wind down its operations.
Morabito, who represents the official committee of unsecured creditors, said when the parties reconvene before U.S. Bankruptcy Judge Laurie Selber Silverstein, they will either have an agreement in place to allow the sale to go through or they will be providing a further status update on the pursuit of their objections to the deal.
“While we’re not there yet, certainly what we received late last night was a much more positive and constructive step toward holistic resolution,” she said.