Metalforming liquidation plan accepted by nearly all voting creditors

By Caroline Salls

Pittsburgh, April 7 - Metalforming Technologies, Inc.'s plan of liquidation was accepted by 100% of voters in two of the three voting classes, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

Those voting unanimously to accept the plan included eight holders of $53.13 million in lender claims and seven holders of $240,964 in general secured claims.

A total of 148, or 98.01%, of holders of $26.87 million, or 99.66%, of general unsecured claims voted to accept the plan, while three, or 1.99%, of holders of $92,259, or 0.34%, of those claims voted to reject it.

Metalforming, a Chicago-based automobile parts manufacturer, filed for bankruptcy on June 16, 2005. Its Chapter 11 case number is 05-11697.

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