The Troy, Mich., company said it still plans to emerge from Chapter 11 by the end of the year.

It said its board is scheduled to meet next Monday to consider a new financing agreement. It did not say what the proposed agreement was or who it was with.

Delphi said April 19 it did not expect private-equity firm Cerberus Capital Management LP' title='Cerberus Capital Management LP' class='tpstyle'>Cerberus Capital Management LP would continue as a plan investor.

Cerberus dropped out and turned its full attention to a successful drive to acquire DaimlerChrysler AG's Chrysler Group.

Cerberus partners Appaloosa Management LP and Harbinger Capital LP have now joined with Pardus Capital Management LP, a hedge fund with significant stakes in auto-parts suppliers Visteon Corp. and Valeo SA, The Wall Street Journal reported.

Another hedge fund -- Highland Capital Management LP, whose $4.7 billion bid Delphi originally rejected in favor of the Cerberus plan -- recently filed disclosures with U.S. regulators saying it was talking with Delphi and former parent General Motors Corp. (NYSE:GM)

Delphi filed for bankruptcy protection in October 2005.