Hedge Fund Opposes Delphi Restructuring Plans
Appaloosa, Delphi’s largest shareholder with 9.3% which recently won its fight to form an equity committee, filed an objection with the U.S. Bankruptcy Court in Manhattan on Monday, arguing that Delphi has not yet proven that its proposals will benefit the company.
It said Delphi’s request for court approval seemed to be “premature.”
“We happen to object...
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