Court Approves Formation of New GM
gm-volt.com — Only 35 days after GM entered bankruptcy protection, a Manhattan judge issued a ruling allowing GM to sell its best assets to a government backed new company. The sale is expected to close by the end of the week, and the new GM will be free of debt, excess brands, and dealerships. (Submitted by ljdmd) More...
GM Bankruptcy Judge Approves Delphi Asset Purchase
bloomberg.com — The judge overseeing General Motors Corp.'s bankruptcy case approved the automaker's plan to buy back the steering business and other U.S. plants of its former parts-making unit, Delphi Corp. Platinum Equity will acquire assets other than the plants GM is buying. (Submitted by TomGores) More...
GM's Sale Plans get OK from bankruptcy judge
carthusiast.com — General Motors has narrowly escaped bankruptcy after a judge ruled in their favour, allowing them to sell a major chunk of their good assets to a new company (the possible future of GM) and leaving behind the old company with the bad stuff like tons of liability and debt. The new firm will comprise of more formidable names like Chevrolet and Caddy. (Submitted by inactive) More...
CIT bankruptcy assigned to judge who had GM case
comcast.net — CIT Group Inc's bankruptcy case was assigned on Monday to U.S. Bankruptcy Judge Robert Gerber, the same judge who oversaw the recent reorganization of the automaker General Motors Co. Gerber, a bankru | Comcast.net. (Submitted by chicklets18) More...
GM Breaking State Law After Bankruptcy
mhutch.blogspot.com — I learned for the first time tonight, that a New York bankruptcy judge has ordered GM dealers across the nation to sign a new contract - which is in clear violation of Texas law and more than likely this new dealer contract is a violation of law in other states as well. (Submitted by markhutch) More...
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