On October 3, 2007, legislation was introduced in the U.S. Senate to amend provisions of the U.S. Bankruptcy Code that currently prevent homeowners from using bankruptcy to modify mortgage loans secured by their primary residence. Proponents of the legislation believe that permitting homeowners to modify mortgage loans in bankruptcy will encourage lenders to engage in voluntary modifications prior to bankruptcy.

On Friday, March 3, 2006, Dana Corporation and certain of its affiliated companies (collectively, “Dana") filed for protection under Chapter 11 of the Bankruptcy Code in New York. None of Dana's foreign incorporated affiliates are included in this bankruptcy petition and as such, any transaction with such affiliates should continue in the normal course. However, as a result of the bankruptcy filing, an automatic stay is in effect prohibiting creditors from seeking to take action to collect any amounts due to them from Dana which arose prior to the filing of the bankruptcy petition.