Delphi Receives A Little Breathing Room

Law360, New York (June 28, 2007, 12:00 AM EDT) -- The clock has been reset yet again for Delphi Corp., with a federal bankruptcy judge granting the struggling auto supplier another few months of exclusivity to file its reorganization plan.

On Tuesday, U.S. Bankruptcy Judge Robert Drain gave Delphi a five-month extension, pushing back the date the company needed to file its restructuring plan from July 31 till the end of the year, according to a company spokesman.

The Michigan-based supplier will now also have until Feb. 29 to solicit creditor support for the plan after...
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