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Article: Monaco to auction major assets.(Business)(The RV maker resolves outstanding objections to the plan after intense talks with secured and unsecured creditors)
- Article from:
- The Register Guard (Eugene, OR)
- Article date:
- May 2, 2009
CopyrightCOPYRIGHT 2009 The Register Guard. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tim Christie The Register-Guard
Monaco Coach Corp. got the green light Friday to put its major assets up for auction later this month, but only after intensive negotiations that delayed the start of a hearing in U.S. Bankruptcy Court in Delaware.
Robert Orgel, one of Monaco's attorneys, told Judge Kevin Carey that Monaco was fortunate the hearing was scheduled late in the day because the extra time enabled the parties to resolve all the objections to Monaco's auction plan.
"I couldn't have told you that 45 seconds ago," he said.
Monaco, a Coburg RV maker, terminated about 2,000 employees and filed for Chapter 11 bankruptcy ...