Delphi Seeks $300M More From GM

Law360, New York (November 10, 2008, 12:00 AM EST) -- Struggling to avoid liquidation, bankrupt auto parts maker Delphi Corp. has asked a court for permission to extend debtor borrowing agreements and obtain an additional $300 million from beleaguered automaker General Motors Corp.

If a judge approves the requests, “the debtors will continue to work with their stakeholders in an effort to emerge from Chapter 11 as quickly as practicable despite the difficult economic environment,” said a motion filed Friday in U.S. Bankruptcy Court for the Southern District of New York.

Delphi sought the extension for...
To view the full article, register now.