Committee Objects To Delphi Equity Amendment

Law360, New York (December 6, 2007, 12:00 AM EST) -- The official committee of unsecured creditors has filed a limited objection to Delphi Corp's bid to amend its equity purchase and commitment agreement with a unit of Appaloosa Management LP and others, saying it was “very concerned” that the monetary threshold in a condition of the agreement would be too low given the volatility of the credit markets.

The motion, filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, said that the second restated agreement would add a condition to the...
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