Garrett Motion is set to appear in court today at 2:30pm ET for a discovery conference in its ongoing battle over its reorganization.

The company has proposed a plan centered on an agreement with Centerbridge Partners, Oaktree Capital Management and former parent Honeywell International (COH group) that would provide the company with a USD 1.05bn equity investment, a USD 200m rights offering, a settlement with Honeywell, and payment in full of all other creditors, plus the right for shareholders to cash out at USD 6.25 per share.

Over the weekend, the official committee of equity holders filed its own plan it calls “far superior,” with an USD 800m equity commitment backstopped by Atlantic Park and a commitment for USD 1.5bn in term loans and a USD 350m revolver from Credit Suisse. Common stockholders would be unimpaired or have the option to cash out at USD 7 per share.

Today’s discovery conference comes ahead of a scheduled 16 February hearing to consider the disclosure statement for Garrett’s plan. Your Debtwire bloggers today are Andy Serbe and Scott Flaherty.