Creditors Grouse About Delphi's Sale Plan

Law360, New York (February 4, 2008, 12:00 AM EST) -- More than 15 creditors have filed objections to bankrupt Delphi Corp.'s $447 million plan to sell its global steering and half-shaft business to Platinum Equity LLC affiliate Steering Solutions Corp.

In the motions filed in the U.S. Bankruptcy Court for the Southern District of New York, the companies' objections center around Delphi's attempt to assign contracts or leases in connection with the sale. Objections also deal with a lack of information or the wording of the sale documents.

Delphi Corporation will seek final bankruptcy approval to...
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