Bankrupt U.S. auto parts supplier Visteon Corp said on Wednesday it is seeking approval for up to $150 million in debtor-in-possession (DIP) financing from a group of its term-loan lenders.

Visteon said it has filed a motion with the U.S. Bankruptcy Court in Delaware for approval of the DIP facility, which would give it extra liquidity to pay for ongoing operations. The court is expected to consider the motion on Nov. 12, it said.

Visteon said under the terms of the proposed financing, it would withdraw $75 million on the closing date of the agreement and have an option to take out the rest later.

Visteon, spun off from Ford in 2000, filed for bankruptcy protection in June, one of the casualties of the global auto industry crisis.

Rural telecom services provider FairPoint Communications Inc filed for Chapter 11 protection in a Manhattan bankruptcy court on Monday, under a pre-arranged plan that would cut its debt by $1.7 billion.

In a statement, the Charlotte, North Carolina-based company said the restructuring plan had the support of lenders holding more than 50 percent of the outstanding debt under its secured credit facility.

FairPoint has also received commitments for a $75 million debtor-in-possession (DIP) loan to continue operations while in bankruptcy.

"The day-to-day operations of our business will not be impacted by today's actions," Chief Executive David Hauser said.

In its Chapter 11 filing, the company listed total assets of about $3.24 billion and debt of about $3.23 billion.

FairPoint added that its annual interest expenses would be reduced from more than $200 million to about $65 million.

With about 1.7 million access line equivalents, FairPoint is the seventh largest local telephone company in the United States.

The bankrupt Catholic Diocese of Wilmington began its court fight Wednesday with

victims claiming sexual abuse by its priests over the value of its estate and how much will be available for claims.

Attorneys for most of the 142 victims indicated they may seek to expand the bankruptcy to include parishes that operate in the Delaware-based diocese but were not part of the Chapter 11 bankruptcy filing Sunday.

The attorneys for the diocese pledged an open process that they said would be the quickest way to resolve the claims that stem from alleged abuse beginning as far back as 1954.

The diocese became the seventh in the United States to seek bankruptcy protection, and its filing put on hold the scheduled start of eight civil trials relating to a defrocked priest.

Attorney James Patton, representing the diocese, opened the hearing by acknowledging the abuse by priests.

A Dutch court declared DSB Bank NV bankrupt on Monday, ending hopes the regional lender, which suffered a run on deposits, might be sold or bailed out.

The privately-owned bank is the first to go bust in the Netherlands since last year, though the government and regulators insist its failure was not directly related to the credit crisis.

"The court concludes that the utmost was done for DSB to continue as a whole entity, and there is no prospect of that anymore," the Amsterdam District Court said in a summary of its ruling.

After a run on deposits, DSB was put into receivership of the Netherlands' central bank a week ago. Customers had withdrawn about a sixth of the euro4.3 billion ($6.4 billion) the bank had in deposits at the start of the month.

The government insures the first euro100,000 of retail bank accounts. Central Bank President Nout Wellink has predicted a liquidation that will result in big losses for creditors and cost many of the 2,000 employees their jobs.

The failure has raised questions about the functioning of Dutch financial institutions, oversight bodies and the government — as well as DSB's own lending practices.

The catalyst for the run on DSB was a call by Pieter Lakeman, an industry gadfly, for customers to withdraw their deposits in protest because the bank had improperly overcharged mortgage customers.

The central bank and Finance Minister Wouter Bos have recommended that DSB consider trying to hold Lakeman liable for damages.

Frontier Airlines has received bankruptcy court approval of its reorganization plan, the Denver-based carrier announced today.

The action by the U.S. Bankruptcy Court for the Southern District of New York is the last major hurdle before Frontier emerges from bankruptcy.

Republic Airways Holdings is expected to acquire all of the assets of Frontier and its subsidiary, Lynx Aviation, on about Oct. 1.

"This is an extremely proud day for everyone in our company," said Frontier chief executive Sean Menke. "Many people doubted that we would even survive, let alone accomplish a successful reorganization, provide a recovery for our creditors and emerge a stronger competitor and company."

Menke, who thanked Frontier and Lynx employees for their hard work and sacrifice, said the airline will be "a successfully restructured airline, well-positioned to be a competitive, successful, sustainable airline for years to come."

Automotive parts maker Cooper-Standard Holdings Inc filed for Chapter 11 bankruptcy protection on Monday, saying it could not repay its debt amid a drop in U.S. auto sales.

The maker of auto body sealing systems and fluid handling systems said it had outstanding debt of about $1.17 billion.

"As a result of the severe downturn in the automotive industry and the accompanying decrease in production volumes, the company is overleveraged," Cooper-Standard said in court filings.

Cooper-Standard has received a commitment for $175 million in debtor-in-possession financing, which will help fund operations while it restructures in bankruptcy court. The Novi, Michigan, company has a commitment for an additional $25 million in the form of a standby uncommitted single-draw term loan facility.

The financing is subject to court approval.

Cooper-Standard, which employs about 16,000 worldwide, makes door, body and sunroof seals, as well as systems that move fuel and brake fluid throughout a vehicle.

The company, which blamed the faltering economy for a falloff in its finances, has $5.7 billion in debt, Chief Accounting Officer Tom Friel told The Associated Press.

A recession-linked decline in tourism is plaguing the casino industry after years of rising profits.

Most of Station's assets are maintained in casino-operating subsidies and affiliates and were not included in Tuesday's filing with the U.S. Bankruptcy Court in Reno, Nev. The assets included in the filing are "nominal," Friel said. Executives said operations at the 33-year-old company will continue as usual.

Station has between 100 and 1,000 creditors, Friel said.

"This is a global economic issue that has forced us to have to go back and reset our debt," Chief Operating Office Kevin Kelley said during an interview.

"The restructuring of our debt will provide us with the financial flexibility necessary to meet the challenges of the current economic environment," Chairman and CEO Frank J. Fertitta III said in a statement. "Equally important, it will provide the resources necessary for us to continue to invest in our properties, take advantage of opportunities as they arise and ultimately enable us to emerge as a stronger company."