Bankruptcy Judge Approves GM Sale

Washington Post by Tomoeh Murakami | Jul. 6, 2009 (News Report)

General Motors won permission late Sunday night from a federal bankruptcy judge to sell its assets to a new government-backed company, setting the stage for the largest U.S. carmaker to complete a historic restructuring plan that is at the heart of the Obama administration's efforts to overhaul the ailing auto industry. Full Story »

Posted by Samuel W. Velsor IV

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Subjects: Politics, Business
Topics: Money and Politics, Corporate Governance, Cars
Member Tags: General Motors
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Posted by: Posted by Samuel W. Velsor IV - Jul 6, 2009 - 8:10 AM PDT
Reviewed by: Samuel W. Velsor IV (review)
Content Type: Article
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Edited by: Fabrice Florin - Jul 7, 2009 - 3:25 PM PDT

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Samuel W. Velsor IV
4.6
 by Samuel W. Velsor IV - Jul. 7, 2009

Complete report covering the judges ruling the government's position, and the big stumble block the very upset creditors and most specific the tort holders.

The long expected approval has been approved. Now the appeals, I bet to the Supreme Court by the tort holders and others. I feel this is so wrong and I hope GM wins like Chrysler did. But the Supreme Court left these specific questions wide open!

Samuel posted this story.
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