Delphi seeks OK to extend exclusive plan filing deadline to May 31

By Caroline Salls

Pittsburgh, March 5 - Delphi Corp. requested an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company asked to extend its exclusive plan filing period to May 31 from March 31 and the solicitation period to July 31 from May 31.

The extension request only applies to its statutory committees because its exclusivity in connection with all other parties in interest has already been extended until after Delphi's plan takes effect.

Delphi said its General Motors accommodation agreement requires it to file changes to its plan of reorganization by April 2. The company said it would expect the proposed disclosure statement changes to be approved by May 2.

The company said it expects to use the time leading up to the June 30 expiration of the accommodation agreement to negotiate plan changes and move toward emergence.

A hearing is scheduled for March 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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