E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 9/15/2006 in the Prospect News Distressed Debt Daily.

Delphi CBA rejection, GM contract rejection hearings adjourned to allow further discussions

By Caroline Salls

Pittsburgh, Sept. 15 - Delphi Corp.'s contested hearings on its motions to reject collective bargaining agreements and modify retiree benefits and for authority to reject some commercial contracts with General Motors Corp. have been adjourned to allow continued discussion on the issues, according to a company news release.

The CBA rejection motion hearing was previously scheduled to resume on Sept. 18, and the GM motion hearing on Sept. 28.

The U.S. Bankruptcy Court for the Southern District of New York has scheduled chambers conferences on Sept. 28 for status and scheduling purposes.

According to the release, the adjournments follow a Thursday chambers conference and meetings between Delphi and its major stakeholders, including its statutory committees, labor unions and GM.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005. Its Chapter 11 case number is 05-44481.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.