Appaloosa Prez To Face Delphi Shareholders

Nov 14 2007 | 7:20am ET

David Tepper, the billionaire president of Appaloosa Management, is set to be grilled by fellow shareholders of auto parts maker Delphi Corp., which the hedge fund plans to pump $2.55 billion into as part of a reorganization plan.

The deposition is part of the shareholder’s battle to stop bankrupt Delphi’s restructuring. Under the plan, the company’s shareholders will only get $69 million—a precipitous decline from the $470 million proposed in the initial plan.

Delphi has also sought to amend the plan to cut borrowing and cash payments to former parent General Motors.

Appaloosa, along with the equity committee, has opposed the plans, but has not withdrawn its August agreement with Delphi.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR