Judge Approves Delphi Settlement With Furukama

Law360, New York (August 25, 2008, 12:00 AM EDT) -- A bankruptcy court judge has approved a $16.5 million settlement between auto parts maker Delphi Corp. and Furukawa Electric Co. Ltd., an electronic component manufacturer.

The settlement, submitted to Judge Robert Drain Aug. 6, resolves a long-running dispute between the two companies over a sales contract for torque and position sensors, including litigation in the U.S. Bankruptcy Court for the Southern District of New York and in Michigan state court.

Under the terms of the settlement, which was reached through mediation, Tokyo-based Furukawa has agreed to...
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