The Mediation Times

 

GM Ordered by Judge to Try Mediation With Lenders, U.S.

by Amanda on May 21, 2009

May 21 (Bloomberg) — Delphi Corp., its lenders, General Motors Corp. and the U.S. Treasury Department’s auto task force were ordered by the judge overseeing the auto-parts maker’s bankruptcy case to try to resolve their disputes in mediation.

“While the court is satisfied that the referred parties are conducting themselves in good faith regarding the subject matters referred to the mediator,” U.S. Bankruptcy Judge Robert D. Drain in New York said in an order yesterday, “the court concludes that mediation may contribute to a consensual resolution of these Chapter 11 cases.” …read more

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