![]() ![]() ![]() GM (down $0.67 to $26.03, Research) shares sank about 5 percent in early trading on the New York Stock Exchange. In Chapter 11, a company is protected from creditors while it works out a plan to reorganize and pay its debts. stock and bonds on news that the auto parts maker had filed for bankruptcy over the weekend.ĭelphi, the nation's biggest auto parts maker, filed for protection under Chapter 11 of the federal bankruptcy laws Saturday after warning for months that a filing was likely. General Motors stock tumbled Monday along with Delphi Corp.
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