Delphi Makes Key Changes To Reorganization Plan

Law360, New York (November 15, 2007, 12:00 AM EST) -- After reaching an agreement with investors and its former parent, General Motors Corp., bankrupt Delphi Corp. has amended its reorganization plan again — slashing its plan equity value and net funded debt.

In a filing in the U.S. Bankruptcy Court for the Southern District of New York and a company statement Wednesday, the bankrupt auto parts maker said its net funded debt would be $5.2 billion instead of $7.1 billion.

The plan equity value would also be reduced from $13.4 billion from $13.9 billion. General Motors...
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