Delphi requests six-month exclusivity extension to execute transformation plan

By Caroline Salls

Pittsburgh, June 7 - Delphi Corp. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan filing period to Feb. 1, 2007 from Aug. 5 and the solicitation period to April 2, 2007 from Oct. 4.

According to the motion, the extension is necessary to allow the company to execute its transformation plan and formulate and build consensus for a plan of reorganization.

The company has said since it filed for Chapter 11 that it planned to emerge from bankruptcy in early to mid-2007.

Delphi also cited the size and complexity of its bankruptcy case.

A hearing is scheduled for June 16.

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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