Southfield, Mich.-based Chassix Holdings Inc. could have trouble winning approval from a class of trade creditors for its plan to exit bankruptcy if Indianapolis-based Allison Transmission Inc. can get its litigation claim against Chassix temporarily valued at $1.1 billion, Crain’s Detroit Business reported today. Chassix, which reported annual revenue of about $1.4 billion in a statement this year, awaits a hearing Wednesday before Bankruptcy Judge Michael Wiles on Allison's request to give its pending lawsuit claim in Marion County, Ind., a temporary value. Creditors were supposed to vote by Friday on whether to approve the payment terms in Chassix's April 24 reorganization plan before a confirmation hearing June 30. But Allison will get an extension until Judge Wiles can hear arguments and decide on the breach-of-contract suit.
