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Judge Drain Keeps Delphi Honest, Again

Judge Robert Drain of the the Southern District of Manhattan's Bankruptcy Court  barred Delphi from picking up $30 millon of the expenses of Platinum, its preferred buyer, because "it dramatically exceeds what is appropriate. At least one honest judge is calling out Delphi on its glaring favoratism. To the extent possible, he is trying to maintain an honest and fair auction of a bankrupt auto parts company.

in this matter he's just a "drop in the bucket," the "little Dutch boy with his finger in the dike," but very welcome nevertheless. Someday he will get a court case in which he can make a larger difference, and will likely conduct himself honorably and wisely.

Disclosure: Long the acquaintance of Bob Drain