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Delphi to Send Bankruptcy Plan to Creditors
Delphi Corporation can now begin sending a bankruptcy plan to creditors.
Saturday, December 8th 2007, 2:57 PM EST
Updated:

Delphi Corporation can now begin sending a bankruptcy plan to creditors.
According to Delphi's Attorney a judge approved the order on Friday and if all changes meet his requirements, the judge will enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force and shifting manufacturing overseas.
The proposal would eliminate 27 thousands union jobs and would close or sell 20 factories around the nation.
The company expects to send voting material to creditors on December 15th and a hearing is set to being January 17th to confirm its plan.
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