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March 8, 2021
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Delphi GM Settlement
(2007-09-28)
(wgvu) - A federal bankruptcy judge has
approved a 200 million dollar settlement between auto-parts maker
Delphi and General Motors.
Today's approval resolves damage claims against Delphi over
warrantee claims for parts it supplied.
The deal calls for Delphi to pay GM 130 million dollars in cash
over time and ship about 70 million dollars in replacement parts.
The deal reduces more than 530 million dollars in damage claims GM
filed in 2006.
Troy, Michigan-based Delphi is GM's former parts-making
division. It has been in bankruptcy since October 2005.
Today's settlement comes after Delphi reached a wide-ranging
deal with GM to settle issues over supplies, pricing, retirement
liabilities and plant closings and sales.
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