Delphi is scheduled to meet on Monday in Washington DC with creditors, the government’s auto task force and General Motors to discuss the firm’s reorganisation, a lawyer for the bankrupt auto parts maker said.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The meeting will cover the major issues of the reorganisation plan for the company, which has been in bankruptcy since 2005, lawyer Jack Butler, of Skadden, Arps, Slate, Meagher & Flom, told Reuters.


He described the meeting as “very good news” for parties in the bankruptcy by establishing a consensus on the timetable for developing a plan, rather than having that timetable determined by Delphi.


The move came after the treasury auto task force filed a motion on Wednesday seeking to block a GM-Delphi agreement that would have provided the parts maker access to US$150m, contingent on Delphi selling its steering business to GM.


Treasury representatives at a bankruptcy court hearing on Thursday said they hoped Monday’s meeting would resolve the issues between GM and Delphi.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The treasury has the right to object to large GM transactions as part of the $13.4bn emergency loan extended to the automaker at the end of 2008, Reuters noted.


“There’s a vibrant process we have at the table now. The key parties are at the table and the key issues identified,” said Butler. “This is very good news for Delphi and the stakeholders.”


According to the report, the judge also approved amendments to Delphi’s bankruptcy funding and established 17 April as the new deadline for the company to file a modified reorganisation plan after the previous deadline expired on Thursday.