Visteon seeks approval of $150 mln DIP financing
Bankruptcy
Bankrupt U.S. auto parts supplier Visteon Corp said on Wednesday it is seeking approval for up to $150 million in debtor-in-possession (DIP) financing from a group of its term-loan lenders.
Visteon said it has filed a motion with the U.S. Bankruptcy Court in Delaware for approval of the DIP facility, which would give it extra liquidity to pay for ongoing operations. The court is expected to consider the motion on Nov. 12, it said.
Visteon said under the terms of the proposed financing, it would withdraw $75 million on the closing date of the agreement and have an option to take out the rest later.
Visteon, spun off from Ford in 2000, filed for bankruptcy protection in June, one of the casualties of the global auto industry crisis.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.