Judge Approves Auction Of Delphi Factory

Law360, New York (March 24, 2008, 12:00 AM EDT) -- A judge has approved bankrupt Delphi Corp.'s auction of its Ohio shock absorber factory about a week after the auto parts maker said Tenneco Inc. was willing to serve as the stalking horse bidder with an offer of $18.8 million.

In an order Thursday, Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York said a sale hearing will be scheduled for April 30. Objections to the sale must be filed by April 23.

Delphi asked for the auction in...
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