Appaloosa Makes Bid For $82.5M Fee In Delphi Suit

Law360, New York (September 4, 2008, 12:00 AM EDT) -- Appaloosa Management LP on Tuesday asked a federal bankruptcy judge to force bankrupt auto parts maker Delphi Corp. to pay an $82.5 million alternative transaction fee in response to a lawsuit over the hedge fund's decision to pull out of a $2.55 billion investment deal that derailed Delphi's exit from Chapter 11.

In a filing in the U.S. Bankruptcy Court for the Southern District of New York, Appaloosa said that it was entitled to the alternative transaction fee because Delphi went against the terms of the...
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