Tower Automotive, creditors committee financial advisers approved

By Ted A. Knutson

Washington, June 14 - Financial advisers for Tower Automotive Inc. and the creditors committee in the company's bankruptcy case were approved by the U.S. Bankruptcy Court for the Southern District of New York.

Judge Allan L. Gropper approved the retention of Lazard as financial adviser for Tower Automotive and Houlihan Lokey as finance adviser for the creditors committee in the auto parts maker's bankruptcy.

The judge also authorized the company to reimburse officers and directors for legal fees.

Tower Automotive, based in Novi, Mich., filed for Chapter 11 on Feb. 1. Its case number is 05-10578.

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