Corporate Restructuring & Bankruptcy Blog

The New York Post is reporting today that as many as four separate bids for Delphi Corporation's remaining assets could be made by tomorrow's deadline. The most interesting aspect of the article is the identity of one of the potential bidders - Appaloosa Management L.P. Appaloosa had been set to acquire a large stake in the reorganized Delphi under Delphi's first confirmed Plan of Reorganization. However, that transaction failed to close and generated extremely contentious litigation between Delphi and Appaloosa, among others.

UPDATE: Reuters is reporting that there are six potential suitors, but neither TRW Automotive Holdings nor Appaloosa are intending to submit a bid.

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