Delphi Gets OK To Pay $1M In MDL Defense Costs

Law360, New York (December 20, 2007, 12:00 AM EST) -- Bankrupt Delphi Corp. has received court permission to pay $1 million in defense costs in a derivative securities multidistrict lawsuit it is battling against a number of retirement funds.

Judge Robert Drain of the U.S. Bankruptcy Court for Southern New York on Wednesday approved a stipulation lodged in August between Delphi, certain former company officers and directors and a group of insurance companies.

The judge granted relief from the automatic stay that has currently put the MDL on hold so that Delphi can pay its ex-officers...
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