Delphi’s Unsecured Creditors to Retain Jefferies & Co.

Law360, New York (February 2, 2006, 12:00 AM EST) -- The unsecured creditors committee of auto parts maker Delphi Corp. has asked a federal court to retain Jefferies & Company Inc. as its investment banker and financial adviser in a deal that could lead to a huge bonus payout for the global investment bank.

The request arrives as the scandal-ridden bankrupt company presses on with its restructuring efforts, seeking to find its way out of a sea of red ink. The company saw losses that topped $1 billion last December, and total liabilities exceeding $19 billion....
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