Mar 27, 2006
In the refined legal language of bankers, Appaloosa Management L.P. has called Delphi’s bankruptcy a pack of lies.
Appaloosa holds 9.3% of Delphi stock. It is suing to have a say in the Delphi bankruptcy settlement, saying that Delphi used wrong and misleading data to make its bankruptcy case.
Delphi workers may not have Appaloosa’s slick lawyers, but the workers know just as well: Delphi’s bankruptcy is phony, phony, phony.