A federal judge on Tuesday postponed the auction for the assets of bankrupt Delphi for a second time, in an effort to give bidders more time to work out a deal.
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The auction was postponed until Friday after a meeting in chambers on Tuesday, according to a document filed by US bankruptcy judge Robert Drain, who wrote in his motion there was “good and sufficient cause” to delay the auction.
The hearing to approve Delphi’s reorganisation plan or sale was postponed by six days to 29 July, according to Reuters.
In a statement on Tuesday, Delphi said it expected to announce the outcome of the auction around 27 July.
