Dura Automotive gets approval to exit bankruptcy

NEW YORK, May 13 (Reuters) - Dura Automotive Systems Inc DRRAQ.PK said on Tuesday it has received court approval of its reorganization plan, clearing the way for it to exit bankruptcy protection.

The company, which filed for Chapter 11 bankruptcy in October 2006, is one of the three major U.S. auto suppliers, including Delphi Corp (DPHIQ.PK: Quote, Profile, Research, Stock Buzz) and Tower Automotive Inc, that have filed for protection in recent years under pressure from a slumping U.S. auto market and rising commodity costs. (Reporting by Emily Chasan, editing by Gerald E. McCormick)