UPDATE 1-Dura reaches creditor agreements, eyes Ch, 11 exit

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NEW YORK, March 7 (Reuters) - Auto parts supplier Dura Automotive DRRAQ.PK said on Friday that it had reached agreements with all its major creditors and hoped to expedite plans to emerge from Chapter 11 bankruptcy protection.

Dura said it filed a revised reorganization plan with the U.S. Bankruptcy Court for the District of Delaware with details such as how it intends to treat more than $1.3 billion in claims, taking into account changed economics.

Dura said it would file a revised disclosure statement in the next few days and plans to ask the Court to approve the statement at a hearing to be scheduled in early April.

Dura, which said it expects to be a publicly reporting company when it emerges from bankruptcy, is one of three large auto suppliers that has filed for protection in recent years.

Chief Executive Larry Denton said in a statement that the plan "places the company on an even firmer footing by reducing the amount of required exit financing."

On Dec. 13 Dura, which filed for bankruptcy in October 2006, had said it was postponing its exit financing process because of the tight credit market conditions.

Dana Holding Corp (DAN.N: Quote, Profile, Research, Stock Buzz) emerged from bankruptcy on Feb. 1 after filing for Chapter 11 protection in March 2006.

Troy, Michigan-based Delphi Corp (DPHIQ.PK: Quote, Profile, Research, Stock Buzz), which was spun off by General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) in 1999, filed for bankruptcy in October 2005 and plans to exit in the first quarter.

Also on Friday a U.S. judge said Delphi could proceed with an exit financing deal that relies heavily on GM amid the backdrop of difficult credit market conditions. (Reporting by Sinead Carew; Editing by Gary Hill and Carol Bishopric)