Delphi Reaches Truce With Electronic Data Systems

Law360, New York (May 14, 2007, 12:00 AM EDT) -- After much wrangling, Delphi Corp. has asked a bankruptcy court to approve a settlement with Electronic Data Systems Corp., the creditor that helped unravel an alleged accounting fraud at the beleaguered auto parts company.

On Friday, Delphi filed a motion in the U.S. Bankruptcy Court in the Southern District of New York, seeking to resolve its long-running dispute with EDS over various liabilities.

“Given the high costs of litigating the claims, the reduction of proof of claim No. 12678 by approximately $2 million, and the expungement...
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