Vick filed Chapter 11 papers in U.S. Bankruptcy Court in Newport News on Monday. The seven largest creditors listed in the court papers are owed a total of about $12.8 million.

Vick is serving a 23-month prison sentence at the U.S. Penitentiary in Leavenworth, Kansas, after pleading guilty last year to bankrolling a dogfighting ring. He was subsequently suspended indefinitely without pay and lost all his major sponsors, including Nike. He also faces state charges related to dogfighting.

According to the filing, the debt includes a $3.75 million prorated signing bonus the Atlanta Falcons are seeking to recover.

Plastech Engineered Products Inc., which supplies Chrysler with about 500 plastic interior, exterior and powertrain components for nearly all of its vehicles, filed for Chapter 11 bankruptcy protection on Friday after the automaker told the supplier it was seeking other sources for the parts.

The dispute cut the flow of parts from the Dearborn-based Plastech to Chrysler, and the company on Monday was forced to shut down four factories and cut a shift at a fifth.

Chrysler sued Plastech in U.S. Bankruptcy Court in Detroit, and the both sides were in court Monday but were unable to resolve the matter, a person briefed on the negotiations said. Talks went into the evening and recessed until Tuesday morning, when further court action was scheduled, said the person, who requested anonymity because the talks are confidential.

Chrysler is seeking an immediate resumption of parts production as well as the tools to make the parts, which it owns. Without the tools, Chrysler said in its lawsuit that it eventually will have to cease production of vehicles systemwide.

The automaker terminated its contracts with Plastech on Friday.

Plastech's contracts with the automaker were worth about $200 million, Plastech spokesman Kelvin Scott said. Plastech does about $1.3 billion in total business.

"We are continuing to supply parts to our other customers, including Ford and GM," he said.

One industry analyst said the production slowdown may be short because Chrysler should have little trouble finding new companies to replace Plastech.

Faced with stiff competition and a shrinking market, many suppliers are willing to take on work if it means getting contracts, said Craig Fitzgerald, a partner in Plante & Moran's Strategy and Global Services Group.

In its lawsuit filed Friday, Chrysler claimed Plastech no longer can meet its production demands.

On Monday Chrysler temporarily closed the four assembly plants and shut down one shift at another, affecting about 10,500 workers.

Plants closed are in Sterling Heights, Mich.; Newark, Del.; Toledo, Ohio; and Belvidere, Ill., while the second shift at Toledo Supplier Park in Toledo was dismissed, the company said.

Of the vehicles made at the affected factories, the Dodge Durango sport utility vehicle had the lowest supply in January, at 46 days, according to Wards AutoInfoBank. The largest supply is the Jeep Wrangler, at 117 days.

Although Chrysler has an inventory of vehicles made by the plants, it will not benefit from any plant closures, said Aaron Bragman, an auto industry analyst for the consulting company Global Insight.

"When a plant is idle, you're not making any money. You've got people standing around, so it's just a cost," he said.

Auto companies want enough inventory to have a buffer and don't want it to become depleted, Bragman said. Chrysler has reduced its inventory substantially since it became bloated last year, he said.

Even if Chrysler lays off workers, they would still get most of their pay under their contract with the United Auto Workers.

Overall, the company had 413,874 vehicles in its inventory last month, a 75-day supply, according to Ward's.

The shutdowns are having a ripple effect as auto parts maker Dana Corp. canceled Monday night's second-shift at its modules plant in Toledo. About 150 people work at the plant, which supplies drivetrain parts for Chrysler's Toledo Jeep plant.

Employees at the Sterling Heights stamping plant were sent home early Friday night and after four hours of work Monday, union steward Russell Phillips said.

"We have no extra stock," said Phillips, who adds that Chrysler works on a "just-in-time" policy for parts delivery.

"Most of (the workers) are saying 'this is what they get for not wanting to keep stock in the house,'" Phillips said.

Chrysler employees will be notified of return-to-work schedules from plant officials or through local media, the automaker said.

Plastech has 36 facilities and 7,600 employees in the United States and Canada.

Engine covers, grill panels, moldings, metal stampings, door panels, floor consoles and safety restraint system components are some of the parts Plastech supplies to Chrysler, Ford Motor Co., General Motors Corp. and Toyota Motor Corp., according to the company's Web site.

Ford was still getting parts from Plastech and was unaffected by the dispute, Ford President of the Americas Mark Fields told reporters Monday night.

Chrysler's work shutdown should last no more than a week or two, Fitzgerald said.

"I think they will not have any problems filling the void," he said. "There is a lot of excess capacity. Chrysler would do everything it can to get up and running."

Sen. Christopher Dodd, a presidential candidate and chairman of the Senate Banking Committee, said: "Most often, individuals are forced into bankruptcy by a devastating medical event or the loss of a job."

The Connecticut Democrat said his bill would allow judges to consider the individual circumstances of debtors in bankruptcy cases so that families and children are protected.

The bill would ensure that medical debts can always be discharged in bankruptcy and that mortgages can be restructured to help borrowers stay in their homes, he said.

Student loans would also be dischargeable under the bill, and child support and alimony payments would be settled first.

"Our bankruptcy laws should not punish these vulnerable members of our society, but instead should help them get back on their feet while protecting them and their families from added suffering at the hands of creditors," Dodd said.

The bill would seek to undo some aspects of bankruptcy reform passed in 2005, which Dodd said he opposed at the time.

Some of Dodd's Senate colleagues and lawmakers in the House of Representatives have sponsored their own versions of bankruptcy reform, but no single bill has won widespread support.

Last month, the House Judiciary Committee debated but could not pass a far-reaching measure that would let bankruptcy judges erase mortgage debt.

The Troy, Mich.-based company, which is still struggling with credit market fallout, said it wants to push back its Nov. 8 hearing to later this month. Delphi said it needs to talk with its committees and consider amendments to its investment agreement, which is key to helping the company exit bankruptcy.

Delphi has asked the U.S. Bankruptcy Court in Manhattan to delay the hearing. The court will consider the request on Thursday.

The company has been trying to re-solidify its financing since trouble among sub-prime housing lenders sparked tightening in the credit markets. Delphi said Monday it still plans to exit bankruptcy in the first quarter, despite the hearing delay.

Delphi didn't provide specifics about the objections. However, Wilmington Trust Co., one of Delphi's creditors, recently said in a court filing that the new plan "lacks adequate information regarding a number a number of issues that are critical to make intelligent and informed decisions." Wilmington said the new plan doesn't tell senior debt holders how much they will recover.

Delphi has said that unsecured creditors, who were slated to be repaid 80 percent on their claims with Delphi's new common stock and 20 percent in cash, will instead get a higher percentage of stock and the option to buy additional shares at the discounted price of $34.98.

Current shareholders will no longer be able to buy shares in the reorganized company at a discount, but they will still have the option of purchasing as many as 12.7 million shares of Delphi's new common stock at face value of $41.58 a share.

General Motors Corp., Delphi's former parent and biggest customer, will also receive less cash. The auto maker will now receive a $750 million second-lien note and $1.2 billion in junior convertible preferred stock instead of $2.7 billion.

"We are pleased with the prompt action by the bankruptcy court in approving our first day motions," CEO Joe Malugen said. "This approval will allow our stores to continue to operate so that we can continue to serve our customers while implementing strategies to enhance our financial performance."

Movie Gallery's Canadian operations were not included in the filing. The final hearing about its financing from creditors is scheduled for Nov. 6.

The company announced in September plans to close 520 unprofitable stores across the country, including 14 in Alabama. It also entered into a restructuring program to reduce $1 billion debt incurred after buying the Hollywood Video chain in 2005.

New Century Financial Corp. (NEWC.PK: Quote, Profile, Research), the largest U.S. subprime lender now under bankruptcy protection, was authorized on Thursday to obtain up to $150 million of financing to keep operating under Chapter 11.

The package, which was announced Monday as the company announced its bankruptcy filing, includes up to $150 million of debtor-in-possession financing from The CIT Group and Greenwich Capital Financial Products Inc.
 
According to the Associated Press, U.S. Bankruptcy Judge Kevin Carey said he would agree to the interim financing. Carey earlier granted the lender interim authority to pay "its utility bills, remaining employees and other necessary expenses until the company's assets can be sold next month" the AP reported.

The Irvine, California-based company collapsed amid rising delinquencies and defaults, a federal criminal investigation into its accounting and trading in its securities, and orders by or agreements with at least 17 U.S. states to stop lending.

New Century has said it agreed to sell its loan servicing unit to hedge fund Carrington Capital Management LLC for $139 million, and some loans to Greenwich Capital for $50 million.