Federal-Mogul disclosure statement moved to May 11

By Jeff Pines

Washington, April 26 - Federal-Mogul Corp.'s hearing on its disclosure statement has been rescheduled to May 11, according to a filing Friday with the U.S. Bankruptcy Court for the District of Delaware. Originally, a hearing was scheduled for April 13-14.

The Southfield, Mich.-based auto parts manufacturer filed an amended disclosure statement and reorganization plan. Noteholders are expected to recover an estimated 35% to 44% under this plan.

The company filed for bankruptcy on Oct. 1, 2001. Its Chapter 11 case number is 01-10578.

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