Court Gives Nod To Delphi, Appaloosa Deal

Law360 (December 11, 2007, 12:00 AM EST) -- Bankrupt auto parts maker Delphi Corp. has emergence from Chapter 11 bankruptcy protection well within its sights, after a judge approved the amended equity purchase plan the company hammered out with a group of hedge funds and the company submitted a newly amended reorganization plan and disclosure statement.

In a ruling handed down on Dec. 10, Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York granted Delphi's request for approval of the $2.55 billion funding agreement that will propel the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.