Philadelphia Newspapers owners appeal bankruptcy auction ruling that favors creditorsOctober 13th, 2009 Philly newspaper owners appeal credit-bid rulingPHILADELPHIA — The owners of The Philadelphia Inquirer and Philadelphia Daily News are appealing a bankruptcy court ruling that would likely give the company to creditors. A bankruptcy judge ruled last week that senior lenders can use the $300 million they're owed to bid on the company at a planned auction.
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.
Key bankruptcy hearing on bid rules for Philadelphia Newspaper auction delayed amid talksSeptember 15th, 2009 Key hearing on bids for Philly newspapers delayedPHILADELPHIA — A key bankruptcy issue that could determine the next owner of Philadelphia's two main daily newspapers won't be resolved Tuesday after all. Creditors hope to make a "credit bid" with money owed them to win The Philadelphia Inquirer and Philadelphia Daily News at next month's bankruptcy auction.
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.
Delphi defends sale to Platinum, says it has been open to buyers since entering bankruptcyJune 25th, 2009 Delphi defends asset sale to private-equity firmNEW YORK — Auto parts maker Delphi Corp. defended the sale of a portion of its assets to a private equity firm on Thursday, saying it has been open to other buyers since it first entered bankruptcy protection four years ago.
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.
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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