Law & Health Weekly
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Law & Health Weekly
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Cadence Innovation
Cadence Innovation Files for Chapter 11 Reorganization
September 13th, 2008
Cadence Innovation filed voluntary petitions for reorganization in a Delaware Federal Bankruptcy Court under Chapter 11 of the U.S. Bankruptcy Code. The faltering economy and the increased cost of fuel have severely impacted the US automotive industry. The declining OEM production volumes and significant changes in vehicle segment mix in the US have reduced Cadence Innovation's revenues during a period of rapidly increasing materials costs. This combination of sky-rocketing material costs and quickly deteriorating revenue precipitated today's filing for protection. The US-based operations consist of six active manufacturing plants plus various...
Source: Law & Health Weekly (2008-09-13)
|
