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Delphi Corporation supplies vehicle electronics, transportation components, integrated systems, modules and other electronic technologies worldwide.
In October 2005, Delphi along with its affiliates jointly filed a voluntary petition for reorganization under Chapter 11. The bankruptcy was administered in the U.S. Bankruptcy Court, Southern District of New York.
Cypress acted as financial advisor to a group of Delphi debt and equity investors led by the Teachers’ Retirement System of Oklahoma, the Public Employees Retirement System of Mississippi, Raiffeisen Kapitalanlage-Gesellshaft m.b.H. and Stichting Pensioenfonds ABP.
In September 2007, Delphi announced the settlement of claims by the investor group for a value of approximately $342 million. The settlement was approved by the U.S. District Court, Eastern District of Michigan and the U.S. Bankruptcy Court, Southern District of New York.