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DELPHI-BANKRUPTCY
(2007-11-06)
(wgvu) - DELPHI HAS ASKED A FEDERAL BANKRUPTCY
COURT IN MANHATTAN TO POSTPONE THURSDAY'S HEARING TO CONSIDER
AMENDMENTS TO ITS REORGANIZATION PLAN.
THE POSTPONEMENT WOULD ALLOW THE TROY, MICHIGAN-BASED AUTO PARTS
MAKER MORE TIME TO NEGOTIATE WITH CREDITORS.
CREDITORS HAVE FILED OBJECTIONS TO DELPHI'S DISCLOSURE STATEMENT
AND INVESTMENT AGREEMENT AMENDMENT.
OTHER STAKE HOLDERS ALSO HAVE FILED OBJECTIONS.
DELPHI SAYS IT'S UNLIKELY ALL THE CONDITIONS TO THE INVESTMENT
AGREEMENT WILL BE MET BEFORE THE NOVEMBER 8TH HEARING.
DELPHI EXPECTS TO EMERGE FROM CHAPTER 11 DURING THE FIRST
QUARTER OF 2008.
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