Law Office of Allan E. Dunaway, PLC

Company thrives after bankruptcy

A Pendleton, Indiana, motor company is open again, five years after filing for bankruptcy and closing its doors. Remy International makes starters and alternators for vehicles, a business that has picked up tremendously since the uprising of hybrid-powered vehicles.

In 2007, Remy International was in danger of collapsing, much like many other companies during that time. That year, after 101 in business, the company had to close their doors and revamp their company, building from the bottom back to the top.

President and CEO John Weber credits the successful reconstruction of the company to the change in culture they saw, once owned by General Motors. Team effort is what made this company able to come back in such a big way, according to Weber, everybody across the board made sacrifices.

There were pay cuts in every level of company, with large pay cuts being seen in executives than for the employees on a lower level. These pay cuts and teamwork attitude is what Weber believes to have helped save the company that was once falling completely apart just five years ago.

Remy now employs around 400 people in Indiana between its head quarters in Pendleton and a second facility in Anderson with more than 6,500 employees around the globe. Profitable growth is now the main focus of this company, as they are now trading on the NASDAQ exchange. An opening-day price of $16.45 a share is a big deal for a company that was bankrupt such a short time ago.

Source:, "Indiana Company Celebrates Resurgence From Bankruptcy," Dec. 17, 2012

No Comments

Leave a comment
Comment Information
Contact the Firm

Get Sound Advice In A Free Consultation

For sound bankruptcy advice you can count on, from a skilled lawyer who truly cares about your future, contact the Louisville Law Office of Allan E. Dunaway, PLC. We have two convenient locations: Louisville, Kentucky, and Jeffersonville, Indiana. Our main office in Louisville is located off the beaten path so you won't have to deal with downtown traffic and can pull right up to our door and walk right in.

Call us at 502-785-1005, or send an email message. Our law firm welcomes the opportunity to serve you in any way we can.

If for some reason personal bankruptcy is not for you, if you do not qualify for the Chapter 7 approach via the "means test" and Chapter 13 reorganization is not the answer, Allan E. Dunaway works hard to inform you of other appropriate means of debt settlement that suits your unique needs.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Kentucky Office

Indiana Office

714 Lyndon Lane
Suite 4
Louisville, KY 40222

Phone: 502-785-1005
Fax: 502-412-2258
Louisville Law Office Map

530 East Court Avenue
Jeffersonville, IN 47130

Phone: 502-785-1005
Fax: 502-412-2258
Jeffersonville Law Office Map