Federal-Mogul Reaches Agreement with Creditors on Reorganization Plan

SOUTHFIELD, Mich. - Federal-Mogul Corporation announced Nov. 3 that it has reached an agreement with its creditors on an amended plan of reorganization after a judge recently ended the bankrupt auto parts maker's period of exclusivity for filing the plan. In re: Federal-Mogul Global, Inc., et al., No. 01-10578 (D. Del., Bankr.).

The agreement was reached with the Unsecured Creditors Committee, the Asbestos Claimants Committee, the Future Asbestos Claimants Representative, the Agent for the Prepetition Bank Lender and the Equity Committee and will be filed with the U.S. Bankruptcy Court in Delaware in its Chapter 11 reorganization case, according to …