Court OKs ERISA, Securities Settlements For Delphi

Law360, New York (October 30, 2007, 12:00 AM EDT) -- A bankruptcy court on Monday gave preliminary approval to a series of settlements between Delphi Corp. and its former employees, shareholders and insurers in a multidistrict litigation, overruling objections from numerous creditors.

“The relief granted in this order is in the best interests of the debtors, their estates, their creditors and other parties-in-interest,” wrote Judge Robert Drain in his order.

Drain also certified the settling plaintiffs in securities and employment class actions, consolidated in a related multidistrict litigation, as voting classes entitled to vote on the...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.