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Delphi granted final approval to restrict stock trading to preserve tax attributes
By Caroline Salls
Pittsburgh, Jan. 10 - Delphi Corp. obtained final court approval to restrict trading in the company's stock to preserve tax attributes, according to an 8-K filing with the Securities and Exchange Commission.
The stock trading restrictions apply to anyone who would acquire or dispose of substantial amounts of the stock.
The order also requires substantial holders of Delphi's debt to dispose of their debt, the filing added.
Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8 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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