San Diego
Indicted car maker John Z. DeLorean and attorneys for a dozen parties with an interest in his bankrupt DeLorean Motor Co. agreed to hold further talks after a daylong conference Wednesday aimed at settling DeLorean’s score with the defunct firm.
U.S. District Judge J. Lawrence Irving, who mediated the talks, said through a spokesman Thursday that he was “cautiously optimistic” about the chances for a settlement after more than nine hours of “shuttle diplomacy.”
The talks were directed at settling the bankrupt company’s claims against DeLorean, who bankruptcy trustees believe is the best potential source of funds to compensate creditors seeking $100 million from DeLorean Motor Co.
The settlement discussions have no bearing on criminal charges pending against DeLorean in federal court in Detroit. He is accused of bilking investors in the company of $8.9 million.
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