Delphi retirees seek official committee representation

By Caroline Salls

Pittsburgh, Feb. 17 - Two groups of Delphi Corp. retirees have requested appointment of official committees to represent them in the company's bankruptcy case, according to Tuesday filings with the U.S. Bankruptcy Court for the Southern District of New York.

According to the motions, the company is looking to terminate its employer-paid post-retirement health care and life insurance benefits for some salaried employees and retirees.

If Delphi's motion is approved, the retirees said benefits will be permanently eliminated for roughly 15,000 salaried retirees.

"The debtors' motion is a transparent attempt to steamroll a group that Congress and courts have consistently defined as the most vulnerable in a bankruptcy - non-union retirees," according to the non-union retiree committee motion.

"This group gave their human capital to the debtors and as part of their employment consideration they were promised retirement benefits, often in lieu of other direct benefits, such as increased salaries."

A hearing is scheduled for Feb. 24.

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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