Court Gives Nod To Delphi, Appaloosa Deal

Law360, New York (December 11, 2007, 12:00 AM EST) -- Bankrupt auto parts maker Delphi Corp. has emergence from Chapter 11 bankruptcy protection well within its sights, after a judge approved the amended equity purchase plan the company hammered out with a group of hedge funds and the company submitted a newly amended reorganization plan and disclosure statement.

In a ruling handed down on Dec. 10, Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York granted Delphi's request for approval of the $2.55 billion funding agreement that will propel the...
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