Bankruptcy Judge Oks Shifting Parts Supplier's Assets to Gm

Summary

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NEW YORK - A bankruptcy judge on Monday approved a deal that could shift some of auto parts supplier Delphi's assets to General Motors Co., which emerged from Chapter 11 bankruptcy protection last week.

U.S. Judge Robert Gerber, who is overseeing the liquidation of Motors Liquidation Co., the collection of assets and liabilities left over after the sale of prized GM assets to a new company, gave his approval to the deal, allowing GM and an affiliate of Platinum Equity to buy the bulk of Delphi's assets and help the auto supplier emerge from bankruptcy protection.

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Extract

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Bankruptcy Judge Oks Shifting Parts Supplier's Assets to Gm

All of the assets and costs related to the agreement will transfer to the new GM and not affect the finances of "Ol...

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