Judge Will Rule On Case Against Appaloosa Monday

Law360, New York (July 25, 2008, 12:00 AM EDT) -- A bankruptcy judge will rule Monday on whether auto parts maker Delphi Corp. can sue hedge fund Appaloosa Management LP, Goldman Sachs Group and others that last month pulled out of a $2.55 billion investment deal with Delphi, derailing its emergence from Chapter 11.

After six hours of sometimes heated testimony Friday, Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York said he would rule from the bench Monday.

Delphi filed an adversary proceeding against Appaloosa and the other...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.