Delphi hearings on amended GM arrangement adjourned until June 2

By Rebecca Melvin

New York, May 29 - Hearings to approve Delphi Corp.'s amendments of its General Motors Corp. arrangement and reorganization plan modification were adjourned until June 2 at the U.S. Bankruptcy Court for the Southern District of New York.

Also adjourned until Tuesday were Delphi's steering option exercise motion and any pleadings relating to amendments or any other agreement pertaining to Delphi's accommodation agreement or debtor-in-possession credit agreement with its DIP lenders.

The hearings were originally set for Friday.

The hearings were adjourned as GM moved toward an expected Chapter 11 bankruptcy protection filing on Monday.

"Delphi continues to engage in discussions with its DIP Lenders, GM and the U.S. Treasury Auto Task Force in an effort to resolve the remaining elements of its chapter 11 cases," a Delphi release stated.

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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