Delphi closer to Ch. 11 exit as court OKs $6.8B finance plan

Nov 20, 2007 | 01:36 PM | Michael Cowden

Financially troubled auto parts giant Delphi Corp. is one step closer to emerging from bankruptcy protection, but that doesn't mean it will be ramping up production and buying more metal from North American mills, analysts said.

A bankruptcy judge has approved a $6.8-billion financing package for Delphi to exit bankruptcy protection, according to media reports. The Troy, Mich.-based company originally sought $8.7 billion but saw the figure slashed in the wake of turmoil in the credit market, according to the Associated Press.....

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