Court Lets Delphi Amend DIP Facility

Law360, New York (May 1, 2008, 12:00 AM EDT) -- A bankruptcy court in Manhattan has granted Delphi Corp.'s bid for approval of a $4.1 billion amended and extended debtor-in-possession financing package, a development Delphi says will help ensure that the company stays liquid through 2008.

U.S. Bankruptcy Judge Robert D. Drain signed off Wednesday on an order authorizing the company to extend the maturity date of its DIP facility to Dec. 31, 2008. The maturity date was previously set for July 1, 2008.

The order also gives the auto parts maker a green light to...
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