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...
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