Delphi granted six-month exclusivity extension

By Caroline Salls

Pittsburgh, June 19 - Delphi Corp. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive plan filing period was extended 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.

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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