Delphi's Suit Against Appaloosa Will Go On

Law360, New York (July 28, 2008, 12:00 AM EDT) -- A federal bankruptcy judge ruled Monday that auto parts maker Delphi Corp. could sue hedge fund Appaloosa Management LP, Goldman Sachs Group and others that last month pulled out of a $2.55 billion investment deal with Delphi, derailing its emergence from Chapter 11.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York ruled that Delphi had presented enough evidence in its complaint that Appaloosa and its subsidiary A-D Acquisition Holdings LLC engaged in “truly jaw-dropping conduct that may in...
To view the full article, register now.