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Delphi Committee Bids To Retain Houlihan Lokey

Law360 (September 25, 2006, 12:00 AM EDT) -- The official equity committee of Delphi Corp. has entered a bid to retain Houlihan Lokey Howard & Zukin Capital Inc. as its financial advisor for a whopping $175,000 per month plus expenses.

The committee made the request on Thursday in U.S. Bankruptcy Court in Manhattan, hoping to take advantage of the firm’s services throughout the beleaguered auto supplier’s Chapter 11 proceedings.

In March, the court authorized the formation of an equity committee but stipulated that the entity could not retain any professionals, including investment bankers, accountants...
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