After 4 years, Delphi emerges from Chapter 11 as new companyOctober 6th, 2009 Delphi emerges from Chapter 11NEW YORK — Auto supplier Delphi says it's emerging from bankruptcy protection nearly four years to the day it filed for Chapter 11. Troy, Mich.-based Delphi Holdings LLP says it has acquired most of the old company's core businesses as part of it's plan to restructure and exit court oversight.
Auto parts supplier Delphi gets judge's OK to give lenders control, nears exit from bankruptcyJuly 30th, 2009 Bankruptcy judge approves lender's bid for DelphiNEW YORK — A bankruptcy judge on Thursday approved Delphi Corp.'s plan to hand control of the big auto parts supplier to its lenders and soon end a nearly four-year stay under Chapter 11 protection. U.S. Judge Robert Drain said the plan is in the best interests of both Delphi and its stakeholders, especially given the challenges the parts maker has faced recently as a result of the turmoil in the credit markets and the crumbling of the U.S.
Delphi says creditors win in auction of assets as it bids to emerge from bankruptcyJuly 28th, 2009 Delphi says creditors win in auction of assetsNEW YORK — Auto parts maker Delphi Corp. says its creditors won out over a California private-equity firm in an auction for the company's assets as it moves to emerge from bankruptcy protection.
Bulk of Delphi creditors vote against deal with PlatinumJuly 21st, 2009 Delphi creditors vote to reject Platinum dealNEW YORK — The majority of Delphi Corp.'s creditors have voted against a deal that would allow the auto supplier to be acquired by private-equity firm Platinum Equity and possibly emerge from bankruptcy protection. Of the 17 classes of creditors, 10 voted against the plan, two voted for it and five didn't vote, according to court documents filed late Monday.
Delphi lenders could submit credit bid for company, auction of assets would followJuly 17th, 2009 Delphi lenders face deadline to submit credit bidNEW YORK — Delphi Corp.'s lenders faced a Thursday deadline to submit their own bid for the struggling auto supplier, which would set up an auction of the company's assets. The lenders, which have financially supported Delphi during its nearly four years under court protection and are owed about $3.45 billion, have said in court filings that they planned to submit a competing credit bid, which would involve them forgiving the debts that they are owed.
Delphi auction postponed until Tuesday, lenders still expected to make credit bidJuly 17th, 2009 Judge postpones Delphi auctionNEW YORK — A bankruptcy judge on Friday postponed the planned auction of struggling auto supplier Delphi Corp.'s assets until Tuesday. U.S. Judge Robert Drain ordered the auction's delay after a chambers conference on Thursday that was attended by Delphi, its creditors committee, General Motors Co.
Judge tentatively approves deal to shift some Delphi assets to the new General MotorsJuly 13th, 2009 Judge OKs shift of some Delphi assets to new GMNEW YORK — A bankruptcy judge has approved a deal to shift some of auto parts supplier Delphi's assets to the General Motors Co. that emerged from Chapter 11 bankruptcy protection last week.
Parts maker Delphi receives no new bidders on assets, paving way for sale to buyout firm, GMJuly 11th, 2009 Delphi receives no new bidders on assetsNEW YORK — Auto parts maker Delphi Corp. says a deadline has passed with no further bidders on its business, paving the way for a sale to a California private-equity firm and General Motors Corp.
Bankruptcy judge gives final approval of Delphi's $250 million credit facilityJune 16th, 2009 Judge OKs Delphi's use of $250M credit facilityNEW YORK — A bankruptcy judge says Delphi can have access to a $250 million credit facility. U.S. Bankruptcy Judge Robert Drain on Tuesday gave final approval to the use of the credit facility, which will be provided by Delphi Corp.'s former parent General Motors Corp.
Judge denies Delphi request to conduct deal with Platinum through a private saleJune 10th, 2009 Judge says Delphi sale can't be privateNEW YORK — A bankruptcy judge said Wednesday that a formal sale process needs to be put in place in order to ensure that the potential sale of Delphi's assets results in the greatest possible return for the auto supplier's stakeholders. U.S. Judge Robert Drain said potential bids from Delphi Corp.'s lenders and other parties need to be considered before a deal between the Troy, Mich.-based company and an affiliate of private equity firm Platinum Equity can be allowed to go through.
GM to spend $2 billion to facilitate Delphi sale, in exchange for equity in new companyJune 6th, 2009 GM to spend $2 billion to facilitate Delphi saleDETROIT — General Motors Corp. said Friday it will pay $2 billion to Delphi Corp.
Delphi to sell assets to private-equity firm, emerge from Chapter 11June 1st, 2009 Delphi reaches deal to emerge from Chapter 11NEW YORK — Delphi Corp. said Monday that it reached a deal to sell some of its assets to a private-equity firm and emerge from bankruptcy protection.
Delphi says no agreement yet with Treasury and GM over fate of bankruptcy, remains in talksMay 29th, 2009 Delphi in talks with GM, Treasury over bankruptcyNEW YORK — Auto parts supplier Delphi Corp. says it hasn't reached an agreement yet with the Treasury Department and its former owner General Motors Corp.
Bankruptcy court documents show Delphi now has a few more weeks to negotiate steering saleMay 8th, 2009 Delphi gets until May 21 to reach GM, lenders dealNEW YORK — Auto parts supplier Delphi Corp. has a few more weeks to work out a deal to sell its steering business to General Motors Corp., according to documents filed Wednesday in bankruptcy court in New York.
Delphi receives extension to file term sheet, amends financing agreementApril 23rd, 2009 Delphi gets more time to submit planNEW YORK — Delphi now has more time to come up with a plan to restructure itself without its lenders taking actions that could force the struggling auto supplier into liquidation. U.S. Bankruptcy Judge Robert Drain on Thursday approved a motion extending the deadline for Troy, Mich.-based Delphi Corp.
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