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Delphi gets three-month exclusivity extension
By Reshmi Basu
New York, Dec. 20 - Delphi Corp. received a three-month extension Thursday to its exclusive periods to file a plan of reorganization and to solicit votes on the plan.
The company's exclusive plan-filing period was extended to March 31 from Dec. 31 and the solicitation period to May 31, 2008 from Feb. 29.
On Dec. 7, the company's disclosure statement was approved. The confirmation hearing is slated to start on Jan. 17.
The company expects to exit Chapter 11 during the first quarter of 2008.
Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.
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