Judge Approves Delphi Settlement With Furukama

Law360 (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.