Visteon Corp.âs plunge into Chapter 11 was unavoidable, spurred by crippling production cuts by its customers and a dearth of âcriticalâ financing, according to filings with Bankruptcy Court in Delaware. The supplier filed for Chapter 11 protection today, claiming debts of $5.3 billion against $4.6 billion in assets. âVisteonâs insolvency cannot be fixed outside of Chapter 11,â Chief Financial Officer and Executive Vice President William G. Quigley says in a first-day pleading. âFaced ...
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