Judge Authorizes Delphi Asset Auction
Published November 20th, 2007
Delphi Corp. has won preliminary court approval to sell some of its brake-operations assets to TRW Automotive Holdings Corp. for $42.6 million.
Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan on Friday authorized Delphi to complete an auction by the end of November. The sale would involve inventory and equipment used in Delphi’s brake machining and assembly facilities in Michigan, Tennessee and the Canadian province of Ontario.
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