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GM Ditches Bid For Spot On Delphi Creditors Panel

Law360 (March 9, 2006, 12:00 AM EST) -- In the face of widespread opposition, General Motors Corp. has abandoned its earlier request to join the creditors committee of bankrupt auto parts supplier Delphi Corp, leaving it the only constituent without a seat.

The company filed the withdrawal late Wednesday in U.S. Bankruptcy Court in Manhattan, citing objections entered by the creditors committee and other parties as the primary reason for the retreat.

The resistance showed that GM is clearly “viewed as an adversary," and as a result, a seat on the committee would be...
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