San Jose Bankruptcy Attorney discusses another Chapter 11 Success Story
San Jose Bankruptcy Attorney discusses another Chapter 11 Bankruptcy Success Story
Delphi Corporation, once the world’s largest auto parts manufacturer, is likely to emerge from Bankruptcy within the next few weeks. Delphi has refocused its product line to supplying powertrain components, connectors and wiring harnesses, and teamed other products and divisions.
With a large contribution from General Motors (GM) comprised of approximately $2 billion in cash and a $500 million loan, Delphi projects to be profitable within 12-18 months of emergency from Chapter 11 bankruptcy.
Utilizing the protections provided during the pendency of its bankruptcy, Delphi has been able to cut restructure its debt, dispose of underproducing plants and restructure its facilities. Delphi is expected to exit its CH 11 bankruptcy small but with a more global presence.
Delphi is another example of the benefits of restructuring through a Chapter 11 bankruptcy proceeding. Once a cash starved company teetering on the brink of collapse, Delphi now has the potential to emerge leaner and more profitable than ever before.
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