Garrett Shareholders Drop Their Opposition to Bankruptcy Loan

Shareholders of Garrett Motion Inc. dropped their opposition to a proposed loan to fund the company’s bankruptcy case after the auto-parts maker agreed to remove restrictions that would have pushed a sale instead of a traditional debt reorganization.

• The company removed deadlines and made other changes to the loan to keep it from favoring a sale
  • Since the company filed bankruptcy last month, shareholders have pushed to keep any sale process separate from a bankruptcy loan
• The revised loan proposal will put Garrett “on a path forward for these cases that is not limited to a sale,” shareholders said in ...