The bankruptcy court handling Delphi’s Chapter 11 case has approved an amendment to the Troy, Mich.-based supplier’s arrangement with General Motors, moving up GM’s prepayment agreement by a quarter.
According to a report from BankruptcyData.com, approval of Delphi’s motion seeking amendment to the agreement accelerates from the second quarter to the first quarter of 2009 GM’s prepayment of up to $100 million of the $300 million in 12 pull-forward payments covered by the agreement.