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Last updated 12:50PM ET
March 6, 2021
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DELPHI BANKRUPTCY
(2007-05-07)
(wgvu) - WASHINGTON (Dow Jones/AP) - Delphi expects to pay more than one
(b) billion dollars to its pension plan after shifting
one-point-five (b) billion dollars to former parent General Motors.
In an S-E-C filing today, the auto-parts company says an
informal deal has been reached with the I-R-S and the federal
government's private pension insurer.
The company will also be allowed to defer a June 15th pension
fund payment for hourly and salaried employees. But in exchange,
the company must file a Chapter Eleven plan by July 31st and emerge
from bankruptcy protection by November 15th.
Delphi filed for bankruptcy in October 2005.
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