Bankruptcy Judge Tells Delphi To Open Up Bidding

Law360, New York (June 11, 2009, 12:00 AM EDT) -- Even though bankrupt Delphi Corp. has reached a deal with Platinum Equity Capital Partners LP for the sale of most of its operations, a judge has reportedly told the auto parts supplier to give other bidders a shot at buying its assets.

On Wednesday, Reuters reported that Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York told Delphi during a hearing to hold an auction to sell its assets in July.

During the hearing, several of Delphi's lenders told Judge...
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