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Published: Tuesday, 12/11/2007

Hearing begins in N.Y. on Dana bankruptcy exit

Chief Executive Michael Burns was among witnesses who testified yesterday as a hearing on Dana Corp. s bankruptcy-exit plan opened in U.S. Bankruptcy Court in New York.

The company is asking Judge Burton Lifland to sign off on its plan of reorganization, which was approved by 96 percent of creditors. Lawyers representing the firm s asbestos claimants oppose the proposal.

The hearing is to continue today.

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