Delphi to emerge from bankruptcy - Dayton Business Journal:

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The announcement came Monday, the same day that Delphi’sx former parent, , filed for Chapter 11 the same legal vehicle that Delphi used as protectiohn from its creditors whileit restructured. In the new Delphi — which is one of GM’sz (NYSE: GM) largest suppliersa — will sell assets to a Platinum Equith LLCaffiliate and, with the support of a GM affiliate, will buy five Delphji plants. Delphi has hundreds of Dayton area employee s and thousandsof retirees. General Motorsw will provide $250 million of pre-emergence liquidity through July 31. In othed news Monday, in one of the busiest and most momentoud days forthe U.S.
auto a bankruptcy judge approved the sale of to a new company owned by Fiat, U.S. and Canadiahn taxpayers and retirees. The sale is expecteds on Friday. According to reports, a $2 billiojn cash payment to about 45 banks and investment fundxs which willforgive $6.9 billion in loans, and at least $8.9 billion in aid to Chrysler has come from U.S. taxpayers. At leastg $4 billion of that money will not be The closing is set forJune 15. The fate of 789 Chrysler dealers isstill uncertain.
How much Chrysler owes all majort suppliers also is notfully