Delphi Secures 'Prophylactic' Plan Extension

Law360, New York (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...
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.