17.01.2008 13:58 Creditors OK Delphi's bankruptcy plan TROY, Mich. (AP) - Auto parts supplier Delphi Corp. (News) said Thursday it has won approval from creditors for its plan to emerge from Chapter 11 bankruptcy protection.
The Troy-based company is seeking a federal judge's approval of the plan in a two-day hearing in New York scheduled to begin Thursday.
Delphi says 81 percent of about 4,000 eligible creditors who voted on the plan have endorsed it.
In a bankruptcy court filing, the company says it expects to have a $6.1 billion exit loan in place by early next month. General Motors Corp. spun off its parts-making operations as Delphi in 1999.
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