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Delphi still hopes to exit bankruptcy in the US by the end of this month under a deal with its creditors.

The firm has been in Chapter 11 bankruptcy since 2005 and its plans to exit early this year were scuppered when a deal with investors was hit by the international financial crisis.

Under the current exit plan that won court approval in late July, Delphi will sell its assets to its lenders and General Motors.

Creditors have agreed to forgive nearly US$3.5bn in debt while GM will assume more than US$1bn in Delphi obligations and waive US$2bn in claims.

Federal antitrust officials have now approved plans by GM to acquire Delphi assets.

See also: US: Delphi heading out of bankruptcy at last