http://www.thetruthaboutcars.com/delphi-sues-investors-for-bailing-on-c11-rescue-plan/ The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Sun, 22 Nov 2009 12:34:35 -0500 http://wordpress.org/?v=2.8.6 hourly 1 http://www.thetruthaboutcars.com/delphi-sues-investors-for-bailing-on-c11-rescue-plan/comment-page-1/#comment-434622 AMXtirpated Mon, 19 May 2008 15:35:05 +0000 http://www.thetruthaboutcars.com/delphi-sues-investors-for-bailing-on-c11-rescue-plan/#comment-434622 Highland Capital could not be reached for comment, given they were laughing too hard. Highland Capital could not be reached for comment, given they were laughing too hard.

]]> http://www.thetruthaboutcars.com/delphi-sues-investors-for-bailing-on-c11-rescue-plan/comment-page-1/#comment-432901 jolo Sun, 18 May 2008 14:11:35 +0000 http://www.thetruthaboutcars.com/delphi-sues-investors-for-bailing-on-c11-rescue-plan/#comment-432901 $12 million a month for bankruptcy lawyer fees is what Delphi pays. That is why they wanted to be done by the end of 2007, then the 1st quarter of 2008 and finally by the end of April 2008, which they were. Appaloosa didn't like GM's potential influence on Delphi due to the amount they were kicking in and used it as an excuse to bail, all the while telling Delphi they owed them ~$82 million. What will happen is that they will drop all claims against each other and it will be over. GM won't let Delphi go chapter 7 because it would take GM too long to second source all of Delphi's parts that they have in almost all their vehicles. GM would have no choice but to go Chapter 7 if that happens. $12 million a month for bankruptcy lawyer fees is what Delphi pays. That is why they wanted to be done by the end of 2007, then the 1st quarter of 2008 and finally by the end of April 2008, which they were. Appaloosa didn’t like GM’s potential influence on Delphi due to the amount they were kicking in and used it as an excuse to bail, all the while telling Delphi they owed them ~$82 million. What will happen is that they will drop all claims against each other and it will be over. GM won’t let Delphi go chapter 7 because it would take GM too long to second source all of Delphi’s parts that they have in almost all their vehicles. GM would have no choice but to go Chapter 7 if that happens.

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