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Tuesday, September 16, 2014
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Published: Friday, 8/8/2008

GM agrees to boost loan to Delphi by $300M

NEW YORK General Motors Corp. has agreed to lend Delphi Corp. an additional $300 million as the auto parts supplier struggles to get out of bankruptcy protection, according to a court filing.

Delphi said in a filing Wednesday in U.S. Bankruptcy Court in New York that pending court approval, GM would increase its loan to the parts supplier to $950 million from $650 million so Delphi can maintain a minimum level of liquidity.

The original $650 million was supposed to have been repaid when Delphi emerged from bankruptcy protection.

A hearing before U.S. Bankruptcy Judge Robert Drain was scheduled for Aug. 26.



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