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Novi-based auto supplier Cooper Standard Holdings Inc. filed for bankruptcy protection today as part of a plan to cut its debt through a court restructuring.

Novi-based auto supplier Cooper-Standard Automotive filed a bankruptcy plan this week that would allow the company to emerge from Chapter 11 protection under the ownership of its bondholders. In the plan filed Monday, Cooper-Standard would pay in full its bankruptcy loan, a pre-bankruptcy credit line and claims from unsecured creditors.

Novi-based auto supplier Cooper-Standard Automotive filed a bankruptcy plan this week that would allow the company to emerge from Chapter 11 protection under the ownership of its bondholders.

Novi-based auto supplier Cooper-Standard emerged from bankruptcy protection today under the ownership of a group of its bondholders.

Novi-based auto supplier Cooper-Standard emerged from bankruptcy protection Thursday under the ownership of its bondholders. "The company has emerged with an exceptionally strong balance sheet that will enable us to maintain our leadership position and grow in the industry," said James McElya, Cooper-Standard's chairman and CEO, in a statement.