November 5, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Wolverine Tube, Inc. (OTC: WLVT) said that it has received approval from the United States Bankruptcy Court for the District of Delaware for the first day motions that were submitted for approval.

The approval of these motions will enable the company to transition into Chapter 11 and maintain operations while it moves forward with its efforts to obtain approval of a prearranged plan of reorganization.

On November 1, Wolverine said that it had reached an agreement in principle with holders of the company's notes on the terms of a financial restructuring to reduce the company's indebtedness and that it elected to file Chapter 11 petitions to effectuate a prearranged plan of reorganization supported by its noteholders.

Alabama-based Wolverine offers engineered components that provide a thermal management solution for customers in multiple markets including HVAC, refrigeration and appliance, electronics cooling, power generation, petrochemical and chemical processing.

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