Delphi Allows $54M In BofA Claims In Ch. 11

Law360, New York (May 19, 2011, 7:37 PM EDT) -- Automotive supplier Delphi Corp. agreed Wednesday in New York bankruptcy court to let Bank of America NA make $54 million in unsecured claims for leases subsidiary Delphi Automotive Human Resources LLC had for two aircraft, including a Learjet.

According to the joint stipulation filed by Delphi and Bank of America, the two sides agreed that the hefty claims would be allowed as general unsecured nonpriority claims and that the bank would also be able to make a $1.2 million secured claim.

The agreement was the largest...
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