After an eight-hour-long court session yesterday in which nearly all objections to Delphi's plan were either withdrawn or dismissed, U.S. Judge Robert Drain indicated he will approve the plan.
The judge is expected to rule on a remaining minor dispute this morning. The hearing is set to reconvene at 10 a.m. and include a closing presentation from Delphi's attorneys.
If the plan is approved it would pave the way for Delphi to soon emerge from bankruptcy protection.
Delphi attorney Jack Butler says the Troy-based company has set a target date of Aug. 31 and expects to be out of Chapter 11 by Sept. 30.