Delphi creditors committee, indenture trustee agree to stay plan confirmation revocation proceedings

By Caroline Salls

Pittsburgh, Aug. 22 - Delphi Corp.'s official committee of unsecured creditors and indenture trustee Wilmington Trust Co. have agreed to stay further proceedings related to their lawsuits seeking revocation of the order confirming the company's plan of reorganization, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

In both cases, the proceedings will be stayed until the earlier of the committee or trustee sending written notice terminating the stays or further court order.

According to the filing, the committee and Wilmington Trust agreed to the stays "in light of current events and ongoing negotiations surrounding these Chapter 11 cases."

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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