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Last updated 5:52AM ET
March 9, 2021
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Dana Bankruptcy
(wgvu) - Auto parts supplier Dana Corp. says
almost all of its unsecured creditors have voted in favor of its
reorganization plan.
A U.S. Bankruptcy Court confirmation hearing on the plan is
expected Monday.
Bankruptcy court approval would allow Dana to begin its exit
from Chapter 11 protection.
Dana says in court papers that 96 percent of its unsecured
creditors voted to support the plan.
The Toledo, Ohio-based company makes axles, driveshafts and
other automobile parts for General Motors and other automakers.
It is trying to emerge from bankruptcy by the end of January.
Dana says its Chapter 11 restructuring resulted in annual
savings of between 440 million dollars and 475 million dollars.

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