GM Agrees to Cooperate With Delphi Creditors

General Motors Corp. has agreed to cooperate with unsecured creditors of auto parts maker Delphi Corp. that plan to challenge GM if the automaker attempts to seize big payouts from a restructured Delphi, attorneys in the case said.

Delphi’s unsecured creditors’ committee, which includes representatives from Electronic Data Systems Corp. and General Electric Co., wants General Motors to provide it with various documents so that creditors can examine claims that GM has made or makes on Delphi’s assets.

Attorneys in the case said GM and the unsecured creditors had reached an agreement in which GM would cooperate with the committee so long as the parties could agree to the scope and other terms of the creditors’ inquiry.

From the Associated Press

* Delphi won Bankruptcy Court approval to offer early-retirement incentives to 13,000 employees as part of a plan to cut labor costs. General Motors, the auto parts maker’s former parent, will pay for the program.