Viasystems files for bankruptcy protection

Viasystems files for bankruptcy protection

Keywords: Viasystems, Bankruptcy

Viasystems Inc. has filed for protection under Chapter 11 of the US bankruptcy code, listing assets of and $1.6 billion debts of $1.1 billion.

St. Louis-based Viasystems filed for protection in federal bankruptcy court in southern New York. The company said, in late August it had reached a debt restructuring deal with its banks and debtholders that included a prepackaged,voluntary bankruptcy.

Viasystems has said that restructuring would reduce its debt load to $380 million.

Shares in Viasystems last traded in late April, closing at 13 cents.

(Source: Reuters)