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Published on 9/28/2006 in the Prospect News Distressed Debt Daily.

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

By Jennifer Lanning Drey

Eugene, Ore., Sept. 28 - Delphi Corp.'s hearings on its motions to reject collective bargaining agreements and modify retiree benefits and for authority to reject some of its commercial contracts with General Motors Corp. have been further adjourned to allow for continued discussions, according to a company news release.

The U.S. Bankruptcy Court for the Southern District of New York has scheduled chambers conferences on Oct. 19 for status and scheduling purposes, according to a Thursday filing with the court.

The court also extended the date by which it will issue a ruling to Nov. 30, according to the filing. A hearing on the motion has not yet been scheduled.

The court's decision followed a previous chambers conference held on Sept. 28 and discussions between Delphi and its stakeholders, including its statutory committees, labor unions and GM, according to the release.

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


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