BRIEF-Gloucester Engineering's European unit exits bankruptcy

Nov 12 (Reuters) - * Gloucester engineering's European subsidiary exits bankruptcy * Gloucester says wins court decision in Europe * Gloucester says won court approval to regain control of its European subsidiary, Gloucester engineering co. Europe * Gloucester -on September 1, 2010, the creditors of the European subsidiary "overwhelmingly" approved a settlement offer * Gloucester - restructuring plan is subject to approval by the bankruptcy court in U.S. * Gloucester says ruling prohibits Swiss winding from making further appeals in case against it (Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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