Sabic Innovative Plastics buys $5.3 million in claims against Delphi

By Caroline Salls

Pittsburgh, Oct. 16 - Sabic Innovative Plastics US LLC bought $5.3 million of General Electric Co.'s claims against Delphi Corp., according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Sabic bought one $4.09 million claim and one $1.21 million claim.

The claims were transferred as part of a sale of GE's plastics business to Sabic, according to the filing.

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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