Auto parts maker Garrett Motion Inc. is potentially headed to mediation with equity holders who are angling for a larger share of the company through its reorganization in bankruptcy court, Reuters reported. Lawyers for the company, represented by Sullivan & Cromwell, and its official equity committee, represented by Glenn Agre Bergman & Fuentes, told U.S. Bankruptcy Judge Michael Wiles in Manhattan on Monday that despite negotiations that occurred over the weekend, the parties were not able to reach a deal with respect to their competing restructuring proposals. They agreed to continue negotiations and if they are unable to reach an agreement, mediation could be beneficial.
