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Delphi Secures 'Prophylactic' Plan Extension

Law360 (March 20, 2008, 12:00 AM EDT) -- Acceding to Delphi Corp.'s “abundance of caution,” the judge overseeing the auto parts maker's Chapter 11 case has extended its exclusivity to submit a reorganization plan until the end of May, even though Delphi's plan has already been approved.

But although Delphi has overcome that hurdle in its bankruptcy, it is still having some trouble putting together the $6.1 billion it requires in exit financing, as some investors have objected to its former parent company General Motors Corp.'s recent and substantial increased involvement in extending Delphi...
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