Delphi Corporation Seeking Bankruptcy Loan Extension
Bankrupt former General Motor parts business Delphi Corporation is seeking an extension of up to six months for about US$4.35 billion in borrowed funds. The company reported in a regulatory filing that is meeting with investors to discuss a proposal to extend the timeframe within which the company can repay the loans, and is hoping for an extension through to June 30, 2009 or the company’s exit from court protection, whichever comes first.