Friday, Jul 29, 2016
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Automotive

Shareholder panel OK'd in Delphi bankruptcy

NEW YORK - A U.S. bankruptcy judge granted a motion yesterday by one of Delphi Corp.'s largest shareholders to create a committee to represent stock owners' interests in the auto parts maker's reorganization.

Appaloosa Management LLC, a hedge fund headed by David Tepper that holds 9.3 percent of Delphi shares, sought the committee, arguing that Delphi overstated liabilities when it filed for bankruptcy last October.

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