Federal-Mogul Corporation announced this morning that it will emerge from Chapter 11 bankruptcy on Dec. 27, when its Plan of Reorganization goes into effect. The company's Plan of Reorganization was confirmed by the U.S. Bankruptcy Court on Nov. 8 and affirmed by the U.S. District Court on Nov. 14. The Confirmation Order relating to the Plan has become final and non-appealable. "We are delighted to have reached this significant milestone in Federal-Mogul's 108-year history of serving the global automotive industry. We are confident about our future and wish to acknowledge the support and loyalty of our customers, suppliers and employees worldwide," says Federal-Mogul Chairman, President and Chief Executive Officer José Maria Alapont. "The Company's performance reflects the dedication of the Federal-Mogul team, paving the way toward emergence from Chapter 11," Alapont adds. "We are committed to our global strategy for sustainable profitable growth, as we remain focused on creating value for our customers through innovative technologies, leading products, operational and service excellence, and best cost optimization in all areas of our business." The record date for holders of allowed claims and equity interests under the Plan of Reorganization was Nov. 8, and the effective date of the Plan of Reorganization is scheduled for Dec. 27. For more information about Federal-Mogul, or to read the company's full Plan of Reorganization, visit the company's Web site. |