Trust Objects To Delphi Financing Agreements

Law360, New York (November 14, 2007, 12:00 AM EST) -- An indenture trustee for note holders has objected to bankrupt Delphi Corp.'s move to enter into more than $6 billion in exit financing, saying it is unclear what arrangements the company wants to enter into.

In the motion filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, Wilmington Trust Company said the financing has changed and Delphi hasn't offered a good reason to continue as things stand.

In July, Delphi announced that a group of investors, led by hedge fund Appaloosa...
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