Delphi Courts Investors After Break With Cerberus

Law360, New York (July 9, 2007, 12:00 AM EDT) -- Bankrupt Delphi Corp. said Monday that it has terminated its agreement with Cerberus Capital Management LP, but said the development will not prevent it from filing its reorganization plan by the time its exclusivity period expires at the end of the year.

The auto parts maker had announced previously that its deal with Cerberus would likely fall through. And last month, Highland Capital Management LP said that it was again pursuing a deal to get Delphi out of bankruptcy protection.

On Monday, Delphi said that a...
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