Delphi Closes In On Emergence With Union Deals

Law360, New York (August 7, 2007, 12:00 AM EDT) -- Bankrupt auto parts maker Delphi Corp. has reached deals to restructure its labor agreements with five out of the six unions representing its employees, and is in talks with the sixth union to forge a deal that will put the company one step closer to emerging from Chapter 11 later this year.

On Monday, Delphi filed two motions asking the U.S. Bankruptcy Court for the Southern District of New York to approve memoranda of understanding between the company, its former parent General Motors Corp. and four...
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