Delphi's Suit Against Appaloosa Will Go On

Law360, New York (July 28, 2008, 12:00 AM EDT) -- A federal bankruptcy judge ruled Monday that auto parts maker Delphi Corp. could 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.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York ruled that Delphi had presented enough evidence in its complaint that Appaloosa and its subsidiary A-D Acquisition Holdings LLC engaged in “truly jaw-dropping conduct that may in...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.