1340 AM, Sunday, October 12th, 2008
Delphi Drops Chapter 11 Bankruptcy Plan
Last updated on Tuesday, July 10, 2007
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(DETROIT) - Delphi is throwing out its agreement with investors who had planned to contribute up to 4.3 billion dollars to help the struggling auto parts maker emerge from chapter 11 bankruptcy protection.
A spokesman for the company says a revised agreement is expected later this month.
Delphi's board of directors will meet July 16th, but it is unclear whether the group will vote on a new plan.
Delphi has about six-thousand employees in Indiana, most in Kokomo and Anderson.
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