Broke? GM Fires Multibillion-Dollar Claim Against Delphi


It's been a while and we hadn't heard from Delphi recently...we were wondering what those guys have been up to. We found out when late yesterday, broke-as-a-joke auto supplier Delphi said the General made a "multibillion-dollar" demand for payments. That's not so good for Delphi considering it's kinda been relying on GM's help to carry out its bankruptcy reorganization. It's also interesting...

...because folks at Delphi are saying they have their own claim to file against the General, and Delphi's creditors have estimated GM's debt to Delphi a in the "billions of dollars" and are complaining Delphi hasn't been working hard enough to try to get payment from the General. So we've got a lawsuit by the worlds biggest automaker against the worlds biggest brokest auto supplier, and threats of a counter-suit. Sounds like a regular day in the American auto industry to us.

General Motors files multibillion-dollar claim against Delphi [MarketWatch]

Related:
Breaking! Bankruptcy Judge Rewards Delphi Execs For Being Bankrupt [internal]