Deal Between GM, Delphi Gets Judge's Approval

Law360, New York (July 13, 2009, 12:00 AM EDT) -- A judge overseeing the bankruptcy of General Motors Corp. has reportedly approved a deal that would allow New GM and a private equity firm to acquire most of Delphi Corp.'s assets and propel the auto parts supplier out of Chapter 11.

Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York gave his approval to the deal at a hearing on Monday, according to the Associated Press. However, Judge Robert Drain — who is overseeing the Delphi bankruptcy in the same...
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