Continuation of Delphi disclosure hearing postponed by two weeks to allow for possible plan amendments

By Jennifer Lanning Drey

Portland, Ore., Oct. 19 - The second day of Delphi Corp.'s disclosure hearing has been pushed back to Nov. 8 from Oct. 25 at the company's request, according to a Friday filing with the Securities and Exchange Commission.

Delphi said the adjournment will allow the company to continue to negotiate potential amendments to its plan of reorganization with key stakeholders, make appropriate amendments to both the General Motors Corp. settlement documentation and the equity purchase commitment agreement and to continue discussion with potential exit lenders.

Delphi will file any changes to its disclosure statement on Oct. 29, according to the filing.

The company said it expects to emerge from bankruptcy in the first quarter of 2008.

Delphi's disclosure hearing began on Oct. 23.

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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