Judge Grants Extensions As Delphi Seeks Financing

Law360, New York (April 1, 2008, 12:00 AM EDT) -- The judge overseeing Delphi Corp.'s bankruptcy has agreed to extend the auto parts maker's waiver and indemnity agreements with Internal Revenue Service and its parent company, General Motors Corp., while it works to secure funding for its Chapter 11 exit.

Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York granted a 15-day extension to Delphi's indemnity agreement with GM and another week to its waiver agreement with the IRS. Both agreements were due to expire Monday.

The GM agreement, ratified...
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