The Auto Board

[MWM]

DEBT HOLDERS SEE TRAGEDY IN LEAR CHAP. 11

Debt holders in car-seat maker Lear Corp. are bracing for impact, as the firm appears headed for a collision course with a Chapter 11 bankruptcy over the next several days.

A debtholder told The Post that Lear, which had been General Motor's ninth-largest auto supplier, is choking on too much debt and won't be able to restructure itself as the woes in the car industry, which have already taken their toll on Chrysler and General Motors, begin to hit the automakers' suppliers.

http://www.nypost.com/seven/06252009/business/debt_holders_see_tragedy_in_lear_chap__1_176001.htm