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Delphi Corporation, et al.
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In re Delphi Corporation, et al., Case No. 05-44481 (RDD) Jointly Administered
United States Bankruptcy Court, Southern District of New York (http://www.nysb.uscourts.gov)
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Attention:
On June 1, 2009, Delphi filed further modifications to its confirmed First Amended Joint Plan of Reorganization and a Supplement to its First Amended Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. These plan modifications, if approved by the court, provide for Delphi to emerge from chapter 11 reorganization through a transaction with Parnassus Holdings II, LLC, an affiliate of Platinum Equity, and with the support of GM Components Holdings LLC, an affiliate of General Motors Corporation. The emergence structure is similar to that contemplated in the Company’s previously Confirmed Plan.
However, instead of plan investors emerging as the majority owner of the continuing business enterprise through sponsorship of the Confirmed Plan, Delphi has agreed to contemporaneously effectuate transactions through which Parnassus will operate Delphi's U.S. and non-U.S. businesses going forward with emergence capital and capital commitments of approximately $3.6 billion and without the labor-related legacy costs associated with the North American sites that are being acquired by GM Components Holding LLC together with Delphi's global Steering business. Certain other residual non-core and non-strategic assets and liabilities will be retained by a reorganized entity emerging as DPH Holdings Co., which are expected to be divested over time. Delphi has also committed to complete these transactions through a sale of the company to the acquirers pursuant to section 363 of the Bankruptcy Code if sufficient stakeholder support cannot be obtained to achieve confirmation and substantial consummation of the modified plan of reorganization. For a copy of the press release issued on June 1, 2009, click here. For a copy of the Plan Modification Motion, click here. For a copy of the Modification Procedures Order, click here.
Delphi has reached an agreement with General Motors Corporation to provide up to an additional $250 million of unsecured subordinated bridge financing to Delphi through an amendment and restatement of its previously-approved liquidity support agreement, referred to as the "GM Arrangement." This agreement supplants the proposed fourth and fifth amendments to the GM Arrangement, to which the Auto Task Force was previously not ready to support. For a copy of the motion seeking approval of the Amended GM Arrangement, click here. For a copy of the Interim Amended and Restated GM Arrangement Approval Order"), click here. For a copy of the final Amended and Restated GM Arrangement Approval Order"), click here.
The final approval hearing on the emergence transactions has been scheduled by the Bankruptcy Court for July 23, 2009. A final hearing on the incremental $250 million subordinated financing through the Amended GM Arrangement has been set for June 16, 2009. The Bankruptcy Court has scheduled preliminary hearings on June 10, 2009 at 9:30 a.m. (prevailing Eastern time) for the Plan Modification Motion and the motion seeking approval of the Amended GM Arrangment. For a copy of the Bankruptcy Court's amended scheduling order entered June 2, 2009, click here.
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Attention:
On December 3, 2008, the Bankruptcy Court entered an order granting Delphi's motion for an order approving the Accommodation Agreement with its DIP Lenders, which allows the Debtors, among other things, to continue using certain of the proceeds of the postpetition financing facility through June 30, 2009. For a copy of the order DIP Accommodation Order, click here. For a copy of the Accommodation Motion, click here.
The Accommodation Agreement has been amended from time to time. For a copy of the Accommodation Amendment Order click here. For a copy of the Accommodation Amendment Motion click here. For a copy of the Final Second Accommodation Amendment Order click here. For a copy of the Second Accommodation Amendment Motion click here. For a copy of the Final Third Accommodation Amendment Order click here. For a copy of the Third Accommodation Amendment Motion click here. For a copy of the Notice of Fourth Accommodation Amendment click here.
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Attention:
On April 13, 2009, Delphi filed a motion to disband the Equity Committee that had been appointed in its chapter 11 cases. The Bankruptcy Court granted Delphi's motion effective April 23, 2009 and directed that the Equity Committee be disbanded. For a copy of the Motion to Disband the Equity Committee click here. For a copy of the Order to Disband the Equity Committee click here. For a copy of the Notice of Disbandment of the Equity Committee click here.
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General Information:
 | | On October 8, 2005, and subsequently October 14, 2005, the Debtors filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). The forty-two Debtors are being jointly administered under Delphi Corporation, Case No. 05-44481. The Bankruptcy Cases are pending before the Honorable Robert D. Drain, Bankruptcy Judge, United States Bankruptcy Court for the Southern District of New York. | |
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Pursuant to the Bankruptcy Code (specifically including, but not limited to, 11 U.S.C. § 362), a debtor is afforded certain protection against its creditors; the Bankruptcy Code prohibits creditors from taking certain actions related to debts that may have been owing prior to the commencement of the Bankruptcy Cases. If you believe that you might be a creditor of the Debtors based upon debts arising prior to their respective filing dates, and you are considering taking action based upon your status as a creditor, you may wish to seek legal advice. The staff of the Clerk's Office of the Bankruptcy Court and the staff of Kurtzman Carson Consultants LLC are not permitted to give legal advice. | | |
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Resources:
| | | Delphi Corporation Information |
| | | | | | | | | | Delphi Legal Information Hotline: | Toll Free: (800) 718-5305 | | | International: (248) 813-2698 | | Supplier Support Center: | Toll Free: (866) 688-8679 | | | International: (248) 813-2601 | | Claims and Noticing Agent: | Toll Free: (888) 249-2691 |
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Important Dates, Deadlines & Documents:
Some dates, deadlines and documents in the Debtors' Bankruptcy Cases that may be relevant to interested parties are set forth below:
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| Date of Filing |
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October 8 & 14, 2005 |
| Bridge Order Hearing |
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October 8, 2005
(4:00 p.m. EDT) |
| Hearing on First Day Motions |
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October 11, 2005
(4:00 p.m. EDT) |
| First Omnibus Hearing |
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October 27, 2005
(10:00 a.m. EDT) |
| Hearing for Adjourned Matters |
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November 4, 2005
(10:00 a.m. EST) |
| Second Omnibus Hearing |
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November 29, 2005
(10:00 a.m. EST) |
| Third Omnibus Hearing |
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January 5, 2006
(10:00 a.m. EST) |
| Final Trading Order Notices |
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January 6, 2006 |
| Meeting of Creditors |
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February 3, 2006
(1:30 p.m. EST) |
| Fourth Omnibus Hearing |
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February 9, 2006
(10:00 a.m. EST) |
| Fifth Omnibus Hearing |
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March 9, 2006
(10:00 a.m. EST) |
| Sixth Omnibus Hearing |
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April 7, 2006
(10:00 a.m. EDT) |
| Seventh Omnibus Hearing |
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May 30, 2006
(11:00 a.m. EDT) |
| Eighth Omnibus Hearing |
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June 19, 2006
(10:00 a.m. EDT) |
| Ninth Omnibus Hearing |
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July 19, 2006
(10:00 a.m. EDT) |
| Deadline to File Proofs of Claim |
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July 31, 2006
(5:00 p.m. EDT) |
| Tenth Omnibus Hearing |
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August 17, 2006
(10:00 a.m. EDT) |
| Eleventh Omnibus Hearing |
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September 14, 2006
(10:00 a.m. EDT) |
| Twelfth Omnibus Hearing |
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October 19, 2006
(10:00 a.m. EDT) |
| Thirteenth Omnibus Hearing |
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November 30, 2006
(10:00 a.m. EST) |
| Fourteenth Omnibus Hearing |
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January 12, 2007
(10:00 a.m. EST) |
| Fifteenth Omnibus Hearing |
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February 15, 2007
(10:00 a.m. EST) |
| Sixteenth Omnibus Hearing |
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March 22, 2007
(10:00 a.m. EDT) |
| Seventeenth Omnibus Hearing |
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April 20, 2007
(10:00 a.m. EDT) |
| Eighteenth Omnibus Hearing |
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May 31, 2007
(10:00 a.m. EDT) |
| Nineteenth Omnibus Hearing |
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June 26, 2007
(10:00 a.m. EDT) |
| Twentieth Omnibus Hearing |
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July 19, 2007
(10:00 a.m. EDT) |
| Twenty-First Omnibus Hearing |
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August 16, 2007
(10:00 a.m. EDT) |
| Twenty-Second Omnibus Hearing |
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September 27, 2007
(10:00 a.m. EDT) |
| Twenty-Third Omnibus Hearing |
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October 25, 2007
(10:00 a.m. EDT) |
| Twenty-Fourth Omnibus Hearing |
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November 16, 2007
(10:00 a.m. EST) |
| Twenty-Fifth Omnibus Hearing |
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November 29, 2007
(10:00 a.m. EST) |
| Disclosure Statement and Solicitation Procedures Hearing |
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December 6, 2007
(10:00 a.m. EST) |
| Twenty-Sixth Omnibus Hearing |
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December 20, 2007
(10:00 a.m. EST) |
| Voting Deadline |
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January 11, 2008
(7:00 p.m. EST) |
| Confirmation Hearing |
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January 17, 2008
(10:00 a.m. EST) |
| Twenty-Seventh Omnibus Hearing |
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January 25, 2008
(10:00 a.m. EST) |
| Twenty-Eighth Omnibus Hearing |
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February 21, 2008
(10:00 a.m. EST) |
| Twenty-Ninth Omnibus Hearing |
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March 19, 2008
(10:00 a.m. EDT) |
| Thirtieth Omnibus Hearing |
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April 30, 2008
(10:00 a.m. EDT) |
| Thirty-First Omnibus Hearing |
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May 29, 2008
(10:00 a.m. EDT) |
| Thirty-Second Omnibus Hearing |
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June 24, 2008
(10:00 a.m. EDT) |
| Thirty-Third Omnibus Hearing |
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July 31, 2008
(10:00 a.m. EDT) |
| Thirty-Fourth Omnibus Hearing |
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August 26, 2008
(10:00 a.m. EDT) |
| Thirty-Fifth Omnibus Hearing |
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September 23, 2008
(10:00 a.m. EDT) |
| Thirty-Sixth Omnibus Hearing |
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October 23, 2008
(10:00 a.m. EDT) |
| Thirty-Seventh Omnibus Hearing |
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November 24, 2008
(10:00 a.m. EST) |
| Thirty-Eighth Omnibus Hearing |
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December 17, 2008
(10:00 a.m. EST) |
| Thirty-Ninth Omnibus Hearing |
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January 27, 2009
(10:00 a.m. EST) |
| Fortieth Omnibus Hearing |
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February 24, 2009
(10:00 a.m. EST) |
| Forty-First Omnibus Hearing |
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March 24, 2009
(10:00 a.m. EDT) |
| Forty-Second Omnibus Hearing |
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April 23, 2009
(10:00 a.m. EDT) |
| Forty-Third Omnibus Hearing |
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May 21, 2009
(10:00 a.m. EDT) |
| Preliminary Plan Modification Hearing |
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June 10, 2009
(9:30 a.m. EDT) |
| Forty-Fourth Omnibus Hearing |
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June 16, 2009
(10:00 a.m. EDT) |
| Voting Deadline |
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July 15, 2009
(7:00 p.m. EST) |
| Administrative Bar Date |
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July 15, 2009
(5:00 p.m. EST) |
| Forty-Fifth Omnibus Hearing |
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July 23, 2009
(10:00 a.m. EDT) |
| Final Modification Hearing |
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July 23, 2009
(10:00 a.m. EDT) |
| Forty-Sixth Omnibus Hearing |
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August 20, 2009
(10:00 a.m. EDT) |
| Forty-Seventh Omnibus Hearing |
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September 24, 2009
(10:00 a.m. EDT) |
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Parties and Addresses:
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Delphi Corporation Claims Processing
c/o Kurtzman Carson Consultants LLC
2335 Alaska Avenue
El Segundo, CA 90245
Please file proof(s) of claim, if any, via US Mail (at the address listed above) or in person, via courier, or via other hand delivery system (at the adjacent Court Address). Facsimile and other electronic delivery methods are not acceptable. You must file an originally executed proof of claim. If you would like a copy of your claim returned to you as proof of receipt, please enclose an additional copy and a self-addressed postage-paid envelope.
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Counsel for the Debtors
John Wm. Butler Jr., Partner
John K. Lyons, Partner
Ron E. Meisler, Partner
Skadden, Arps, Slate, Meagher & Flom LLP
155 N. Wacker Drive
Suite 2700
Chicago, IL 60606
T: 800-718-5305
F: 312-407-0411
http://www.skadden.com
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Counsel for the Debtors
Kayalyn A. Marafioti, Partner
Thomas J. Matz, Counsel
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, NY 10036
T: 800-718-5305
F: 212-735-2000
http://www.skadden.com
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Counsel to Creditors’ Committee
Robert J. Rosenberg, Partner
Latham & Watkins LLP
885 Third Avenue, Suite 1000
New York, NY 10022-4834
T: 212-906-1200
F: 212-751-4864
http://www.lw.com
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United States Trustee
Brian S. Masumoto, Trial Attorney
U.S. Department of Justice
Office of the United States Trustee
33 Whitehall Street, 21st Floor
New York, NY 10004-2111
T: 212-510-0500
F: 212-668-2255
http://www.usdoj.gov/ust/r02/
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Note:
Kurtzman Carson Consultants LLC ("KCC") maintains this website at the direction of Delphi Corporation. While KCC makes every attempt to assure the accuracy of the information contained herein, this website is not the website of the United States Bankruptcy Court and does not contain the complete, official record of the Bankruptcy Court. All documents filed with the Court are available for inspection at the United States Bankruptcy Court, Southern District of New York.
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