Delphi Faces $19 Billion Debt Plus Environmental Charges

Law360, New York (January 24, 2006, 12:00 AM EST) -- Scandal-ridden auto parts giant Delphi Corp. has admitted that it is facing at least $19 billion in liabilities, a plethora of unresolved environmental pollution charges, and unspecified income tax debts owed to states and cities nationwide.

The embattled company, which holds the title of the world’s second-largest auto parts manufacturer, listed its personal property assets in the $4 billion range, according to a nearly 800-page filing with a U.S. Bankruptcy Court in New York.

Also listed in the recent filing were the names of 220 Delphi...
To view the full article, register now.