Olin, Delphi Settle $24.5M Preference Claim Suit

Law360, New York (October 8, 2010, 4:07 PM EDT) -- Bankrupt automotive supplier Delphi Corp. has settled an adversary proceeding with Olin Corp. over what Delphi claimed were $24.5 million in preferential transfers to Olin.

The U.S. Bankruptcy Court for the Southern District of New York approved a stipulated motion to dismiss filed by the companies and closed the case Thursday, according to a court order. Details on the settlement were not immediately available Friday.

Olin had sought to dismiss the case in May, saying it was unaware of Delphi's claim for more than two years...
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