From The Detroit News via MEMA Industry News
TROY, MI — Delphi Corp. has filed more than 700 lawsuits seeking payment from suppliers as a backup should its bankruptcy exit plan fail. The names of the companies and amounts sought weren’t disclosed in sealed U.S. Bankruptcy Court filings in New York.
Delphi told the court in August that it could file more than 11,000 suits seeking as much as $5.8 billion. The suits, which had to be filed within two years of the company’s Oct. 8, 2005, bankruptcy, come less than a week after Delphi said it may miss its Jan. 1 target date for leaving bankruptcy.
