{"id":12397,"date":"2009-10-07T07:04:42","date_gmt":"2009-10-07T11:04:42","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=12397"},"modified":"2009-10-07T07:04:42","modified_gmt":"2009-10-07T11:04:42","slug":"delphi-emerges-from-chapter-11-after-4-years","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2009\/delphi-emerges-from-chapter-11-after-4-years.html","title":{"rendered":"Delphi emerges from Chapter 11 after 4 years"},"content":{"rendered":"<p>Associated Press &#8211; Delphi nearly emerged from Chapter 11 last year, but was forced to redraw its reorganization plan after a group of investors, led by the Appaloosa Management LP hedge fund, pulled out of an investment deal in April 2008.<\/p>\n<p>After that, Delphi struggled to find the financing it needed to restructure. Those troubles were complicated by the collapse of investment banks in the fall and the drop-off in new vehicle sales.<\/p>\n<p>Months later, those factors also helped drive both GM and Chrysler into Chapter 11.<\/p>\n<p>In June, Delphi had agreed to let an affiliate of Beverly Hills, Calif.-based Platinum Equity take control of most of its businesses with the help of billions from GM. But Delphi&#8217;s lenders balked at the deal and submitted their own bid which ultimately won out over the deal with Platinum after an 18-hour auction process.<\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.google.com\/hostednews\/ap\/article\/ALeqM5hRxtoO7XWbmB-mzmRwcR0S8fSWwQD9B5TJ9G0\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Associated Press &#8211; Delphi nearly emerged from Chapter 11 last year, but was forced to redraw its reorganization plan after a group of investors, led by the Appaloosa Management LP hedge fund, pulled out of an investment deal in April [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[11324,11148,15932,831,4504,15933],"class_list":["post-12397","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-auction","tag-hedge-fund","tag-investment-deal","tag-investment-banks","tag-investors","tag-platinum-equity"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=12397"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12397\/revisions"}],"predecessor-version":[{"id":12399,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12397\/revisions\/12399"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=12397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=12397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=12397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}