Delphi details possible plan of reorganization timing

By Caroline Salls

Pittsburgh, Aug. 6 - Delphi Corp.'s hearing for approval of the disclosure statement for its plan of reorganization will be held on Oct. 3 if the company files the statement and the proposed procedures for plan vote solicitation by Sept. 6, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The hearing timing was included in a court order shortening the standard period for filing of disclosure statement objections.

If the statement is filed by Sept. 6, objections would be due Sept. 28, with objection replies to be filed by Oct. 2.

As previously reported, Delphi reached a new $2.55 billion equity commitment and plan of reorganization framework agreement on July 18.

The company said at the time that it hopes to file its plan and related disclosure statement by the end of the third quarter.

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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