Date: 2013-08-01

Dana Corporation Receives Court Approval of Settlement Agreements with USW & UAW

Dana Corporation Receives Court Approval of Settlement Agreements with USW & UAW



Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York today granted approval of the settlement agreements between Dana Corporation (OTCBB: DCNAQ) and each of the United Steel Workers (USW) and the United Auto Workers (UAW), as well as an investment agreement with Centerbridge Capital Partners, L.P., for a major investment in the company.

The judge also approved a plan support agreement with the USW, the UAW, and Centerbridge, under which these parties will support a plan of reorganization filed by Dana that includes both the labor settlements and the Centerbridge investment agreement.

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