Delphi granted six-month exclusivity extension to continue plan framework negotiations

By Caroline Salls

Pittsburgh, Jan. 23 - Delphi Corp. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive plan filing period was extended to July 31, 2007 from Feb. 1 and the solicitation period to Sept. 30, 2007 from April 2.

Delphi said the extension is necessary to allow it to conduct further negotiations on a plan framework agreement in connection with investor group commitments and to formulate a plan that conforms to the framework agreement.

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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