Auto parts supplier Lear files for bankruptcy

By doris | Published: July 11, 2009

Full Story at msnbc.com

NEW YORK – Struggling automotive parts supplier Lear Corp. filed for bankruptcy protection on Tuesday after receiving the support it needed from lenders and bondholders.

The move had been expected from Lear, which missed an interest payment on its bond debt last week and revealed its intention to seek court protection from its creditors. The Southfield, Michigan-based company made the filing in the U.S. Bankruptcy Court for the Southern District of New York.

It listed $1.27 billion in assets and $4.54 billion in liabilities. Subsidiaries outside the U.S. and Canada are not part of the filings, the compan

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