Delphi Seeks Lenders' OK Of GM's $250M DIP Loan

Law360, New York (June 17, 2009, 12:00 AM EDT) -- Bankrupt auto parts supplier Delphi Corp. has scored an additional week to resolve issues with its existing debtor-in-possession lenders regarding the terms of former parent General Motors Corp.’s contributions to a new $250 million DIP loan.

In an order signed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Judge Robert D. Drain approved Delphi’s sixth amendment to an agreement with certain of its lenders, extending the agreement’s accommodation period until June 20.

The period will end on that date if a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.