Appliance Parts Maker Robertshaw Wins Approval for Restructuring

Robertshaw and a group of its lenders won court approval to restructure the bankrupt appliance parts maker, overcoming a challenge from rival creditor Invesco Ltd.

Judge Christopher Lopez in Houston ruled Friday that Robertshaw’s restructuring plan and a related settlement with a committee of unsecured creditors was in the best interests of the Itasca, Illinois-based company, vendors and other financial stakeholders.

The restructuring will save jobs and “allows a company with a proud American history of operating for over 100 years to emerge from Chapter 11,” Lopez said.

The ruling marks a victory for Robertshaw’s private equity backer One Rock ...