Meridian Automotive postpones plan confirmation hearing to Dec. 6; still expects to emerge in December

By Caroline Salls

Pittsburgh, Nov. 27 - Meridian Automotive Systems, Inc. rescheduled its plan of reorganization confirmation hearing to Dec. 6 from Nov. 29 to allow its creditor constituencies time to finalize plan agreements, according to a company news release.

Meridian said it still expects the plan to take effect in December.

"We remain on track to emerge from Chapter 11 by the end of the year," president and chief executive officer Richard E. Newsted said in the release.

"The many necessary elements for our plan to become effective are falling into place thanks to the focus and hard work of the Meridian team, our professional advisors, Deutsche Bank and the strong support of our major secured creditor classes and the official committee of unsecured creditors."

Meridian, a Dearborn, Mich., supplier of lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers, filed for bankruptcy on April 26, 2005 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 05-11168.

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