Delphi Gets Green Light On Brake Sale Bidding

Law360, New York (May 4, 2009, 12:00 AM EDT) -- The federal judge overseeing the long-running bankruptcy proceedings of auto parts maker Delphi Corp. has approved the bidding process for the sale of the company's global brakes and suspension business.

Delphi announced in late March that it had reached a deal with China's BeijingWest Industries Co. Ltd. that would see the two units change hands for $100 million, but the bidding procedures would allow another company to come in with a higher offer, according to an order signed Thursday by Judge Robert D. Drain of the...
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