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Judge Greenlights Delphi’s $6.8B Exit Loan

Law360 (November 19, 2007, 12:00 AM EST) -- In a boost to Delphi Corp., a federal bankruptcy judge on Friday signed off on a fee and engagement letter regarding more than $6 billion in exit financing for the beleaguered auto parts maker.

In an order handed down Friday in the U.S. Bankruptcy Court for the Southern District of New York, Judge Robert Drain approved Delphi’s Nov. 6 motion to authorize the $6.8 billion exit financing arrangement after finding that the move was in the best interests of the debtors and their creditors.

“Entering into...
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