Amid Credit Turbulence, Delphi Makes Changes

Law360, New York (October 31, 2007, 12:00 AM EDT) -- Citing the “challenging capital markets environment,” bankrupt Delphi Corp. made alterations to its proposed disclosure statement and reorganization plan Monday, slashing the amount of cash it would give to its former parent company, General Motors Corp.

In a motion filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, the auto parts maker said that since financing terms assumed in the plan it filed in September have not been realized, it needed to make some changes.

Delphi's 2008 business plan has been...
To view the full article, register now.