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Delphi To Ask For More Time

Law360 (December 14, 2006, 12:00 AM EST) -- Embattled auto supplier Delphi Corp. intends to ask for another extension to file its reorganization, plan but is still hoping to exit bankruptcy in the first half of 2007, according to one of the company’s lawyers.

On Wednesday, Skadden Arps attorney Jack Butler revealed that despite “robust progress” with parent company and biggest customer General Motors Corp., the supplier will still ask the court on Dec. 22 for more time to submit its Chapter 11 plan, AFX News reported.

The Michigan auto supplier is currently facing...
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