Wednesday, Jun 29, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Automotive

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.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…