Dayton Business Journal
Auto parts supplier Delphi Corp. has cleared the first of two vital hurdles for emerging from Chapter 11 bankruptcy protection.
The parent of Delphi Thermal Systems said on Jan. 17 that 81 percent of 4,000 eligible creditors have approved its reorganization plan.
The Troy, Mich.-based company is seeking a federal judge's approval of the plan in a two-day hearing, Jan. 17-18, in New York City.
The company said in a bankruptcy court filing that it expects to have a $6.1 billion exit loan in place by early February, news services reported.
Delphi (OTCBB: DPHIQ) filed for Chapter 11 bankruptcy in October 2005.
The company has about 5,000 permanent and temporary workers at five plants in Montgomery County.
E-mail dayton@bizjournals.com. Call (937) 528-4400.
The parent of Delphi Thermal Systems said on Jan. 17 that 81 percent of 4,000 eligible creditors have approved its reorganization plan.
The Troy, Mich.-based company is seeking a federal judge's approval of the plan in a two-day hearing, Jan. 17-18, in New York City.
The company said in a bankruptcy court filing that it expects to have a $6.1 billion exit loan in place by early February, news services reported.
Delphi (OTCBB: DPHIQ) filed for Chapter 11 bankruptcy in October 2005.
The company has about 5,000 permanent and temporary workers at five plants in Montgomery County.
E-mail dayton@bizjournals.com. Call (937) 528-4400.
