Delphi Emerges From Chapter 11

On October 6, 2009, Delphi Corporation, represented by Skadden, completed a four-year reorganization process, emerging from Chapter 11 and substantially consummating its plan of reorganization. Delphi's core businesses are now part of a private company owned by a group of investors that include Delphi's former debtor-in-possession lenders, which credit bid more than $3.4 billion in debtor-in-possession loans as part of the reorganization plan transactions. The going-forward business, Delphi Automotive LLC and affiliates, has more than 100,000 employees and operates in 270 locations in 32 countries. The former debtors, now DPH Holdings Corp. and affiliates, will be responsible for the post-effective administration and eventual closing of the Chapter 11 cases as well as the disposition of certain retained assets and payment of certain retained liabilities as provided for under the plan of reorganization. Delphi filed for Chapter 11 on Oct. 8, 2005. It was the largest U.S. auto-related bankruptcy at the time and the then-largest reorganization case ever for a manufacturing company.