Bankrupt auto parts maker Delphi Corp (DPHIQ.PK) is preparing a revised plan of reorganization to file with the U.S. Bankruptcy Court, but does not know when such a plan will be ready, a company spokesman said on Friday.
“You can expect to see at some point the filing of a revised plan of reorganization,” Lindsey Williams told Reuters. “I just don’t have the time frame for you.”
Williams said Delphi was still engaged in discussions with former parent General Motors Corp (GM.N), with Delphi’s statutory committees, and with government agencies regarding Delphi’s pension funding issue.
“We are in discussions with the same parties with regard to modification to our plan of reorganization, such that would position the company for emergence,” he said, adding that talks were “progressing.”
Asked about whether Delphi could be forced to liquidate, Williams said: “Our efforts are to successfully emerge.”