Delphi Wins More Time For Reorganization Plan

Law360, New York (June 19, 2006, 12:00 AM EDT) -- Shutting creditors out of the process for at least another few months, a bankruptcy judge has approved a motion by Delphi Corp. seeking to extend the beleaguered auto supplier’s deadline to exclusively file a reorganization plan.

On Monday, the judge granted Delphi’s request in U.S. Bankruptcy Court in Manhattan, allowing the supplier to retain control of its bankruptcy case.

Under the terms of the exclusivity period, creditors are banned from submitting rival reorganization plans, but are free to do so once the designated time frame expires....
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