Delphi Seeks Gov. Protection Of Chrysler Receivables

Law360, New York (April 30, 2009, 12:00 AM EDT) -- Auto parts supplier Delphi Corp. has asked a bankruptcy judge for permission to modify its debtor-in-possession financing so that it can sell its receivables from Chrysler LLC, which filed for bankruptcy on Thursday, to a government-sponsored company that would ensure the receivables are paid.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Chrysler asked the court to approve changes to its DIP agreement that would allow it to take advantage of the U.S. Treasury's auto supplier support...
To view the full article, register now.