Delphi Wins Key Committees' Support, Nears Exit

Law360, New York (December 4, 2007, 12:00 AM EST) -- Bankrupt Delphi Corp. continues to inch its way toward an emergence from Chapter 11 protection after reaching key agreements with its unsecured creditors and equity security holders committees.

The company said Tuesday that it had won support of its reorganization plan from the committees, the plan investors and former parent company General Motors Corp. The support should make a hearing to consider its disclosure statement set for Thursday in the U.S. Bankruptcy Court for the Southern District of New York go more smoothly.

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