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Schafer and Weiner Confirm Auto Supplier’s Chapter 11 Plan

March, 2019

Michael E. Baum and John J. Stockdale, Jr. successfully guided a tier-one automotive supplier through its chapter 11 process. The debtors proposed a chapter 11 liquidating plan that contemplates full payment of the bank’s secured claim and the priority federal and state taxes.  While several creditors formally and informally objected to the proposed plan of liquidation, Schafer and Weiner negotiated and successfully navigated resolutions to those objections allowing the United States Bankruptcy Court for the Eastern District of Michigan to confirm the debtor’s liquidating plan.