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In The United States Bankruptcy Court Eastern District of Michigan Southern Division

This order denies a motion by GE Capital Corporation to compel payments from Collins & Aikman Corporation under certain master lease agreements. The court held an evidentiary hearing on the motion. In its order, the court determined that it was more likely than not that the leases at issue would be recharacterized as secured financing agreements, and therefore denied GE Capital's motion to compel payments in its entirety. The order also retained jurisdiction for the court to address any matters related to the implementation of the order.

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29 views2 pages

In The United States Bankruptcy Court Eastern District of Michigan Southern Division

This order denies a motion by GE Capital Corporation to compel payments from Collins & Aikman Corporation under certain master lease agreements. The court held an evidentiary hearing on the motion. In its order, the court determined that it was more likely than not that the leases at issue would be recharacterized as secured financing agreements, and therefore denied GE Capital's motion to compel payments in its entirety. The order also retained jurisdiction for the court to address any matters related to the implementation of the order.

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Chapter 11 Dockets
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IN THE UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION In re: COLLINS & AIKMAN CORPORATION,

et al. 1 Debtors. ) ) ) ) ) ) ) ) Chapter 11 Case No. 05-55927 (SWR) (Jointly Administered) (Tax Identification #13-3489233) Honorable Steven W. Rhodes

ORDER DENYING MOTION OF GENERAL ELECTRIC CAPITAL CORPORATION TO COMPEL PAYMENTS UNDER MASTER LEASE AGREEMENTS Upon the motion (the Motion) 2 of GECC to compel payments under Master Lease Agreements [Docket No. 2626]; it appearing that the Court has jurisdiction over this matter pursuant to 28 U.S.C. 157 and 1334; it appearing that this proceeding is a core proceeding pursuant to 28 U.S.C. 157(b)(2); it appearing that venue of the proceeding and the Motion in this District is proper pursuant to 28 U.S.C. 1408 and 1409; it appearing that notice of the Motion was appropriate under the particular circumstances and that no other or further notice

The Debtors in the jointly administered cases include: Collins & Aikman Corporation; Amco Convertible Fabrics, Inc., Case No. 05-55949; Becker Group, LLC (d/b/a/ Collins & Aikman Premier Mold), Case No. 05-55977; Brut Plastics, Inc., Case No. 05-55957; Collins & Aikman (Gibraltar) Limited, Case No. 05-55989; Collins & Aikman Accessory Mats, Inc. (f/k/a the Akro Corporation), Case No. 05-55952; Collins & Aikman Asset Services, Inc., Case No. 05-55959; Collins & Aikman Automotive (Argentina), Inc. (f/k/a Textron Automotive (Argentina), Inc.), Case No. 05-55965; Collins & Aikman Automotive (Asia), Inc. (f/k/a Textron Automotive (Asia), Inc.), Case No. 0555991; Collins & Aikman Automotive Exteriors, Inc. (f/k/a Textron Automotive Exteriors, Inc.), Case No. 05-55958; Collins & Aikman Automotive Interiors, Inc. (f/k/a Textron Automotive Interiors, Inc.), Case No. 05-55956; Collins & Aikman Automotive International, Inc., Case No. 05-55980; Collins & Aikman Automotive International Services, Inc. (f/k/a Textron Automotive International Services, Inc.), Case No. 05-55985; Collins & Aikman Automotive Mats, LLC, Case No. 05-55969; Collins & Aikman Automotive Overseas Investment, Inc. (f/k/a Textron Automotive Overseas Investment, Inc.), Case No. 05-55978; Collins & Aikman Automotive Services, LLC, Case No. 05-55981; Collins & Aikman Canada Domestic Holding Company, Case No. 05-55930; Collins & Aikman Carpet & Acoustics (MI), Inc., Case No. 05-55982; Collins & Aikman Carpet & Acoustics (TN), Inc., Case No. 05-55984; Collins & Aikman Development Company, Case No. 05-55943; Collins & Aikman Europe, Inc., Case No. 05-55971; Collins & Aikman Fabrics, Inc. (d/b/a Joan Automotive Industries, Inc.), Case No. 05-55963; Collins & Aikman Intellimold, Inc. (d/b/a M&C Advanced Processes, Inc.), Case No. 05-55976; Collins & Aikman Interiors, Inc., Case No. 05-55970; Collins & Aikman International Corporation, Case No. 05-55951; Collins & Aikman Plastics, Inc., Case No. 05-55960; Collins & Aikman Products Co., Case No. 05-55932; Collins & Aikman Properties, Inc., Case No. 0555964; Comet Acoustics, Inc., Case No. 05-55972; CW Management Corporation, Case No. 05-55979; Dura Convertible Systems, Inc., Case No. 05-55942; Gamble Development Company, Case No. 05-55974; JPS Automotive, Inc. (d/b/a PACJ, Inc.), Case No. 05-55935; New Baltimore Holdings, LLC, Case No. 05-55992; Owosso Thermal Forming, LLC, Case No. 05-55946; Southwest Laminates, Inc. (d/b/a Southwest Fabric Laminators Inc.), Case No. 05-55948; Wickes Asset Management, Inc., Case No. 05-55962; and Wickes Manufacturing Company, Case No. 05-55968. Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Motion.

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need by given; the parties having presented evidence and the Court having heard argument and due deliberation and sufficient cause appearing therefor, it is hereby ORDERED 1. For the purpose of determining the Motion, the Court holds that it is more likely

than not that the Products Leases will be recharacterized as secured financing agreements and the Motion is therefore denied in its entirety. 2. The terms and conditions of this Order shall be immediately effective and

enforceable upon its entry. 3. The Court retains jurisdiction with respect to all matters arising from or related to

the implementation of this Order.

Entered: June 09, 2006 _ __ _/s/ Steven Rhodes _ _ Steven Rhodes 1. Chief Bankruptcy Judge

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