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The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11, Title 11, United States Code in the United States bankruptcy court for the Southern District of New York.
On June 1, 2009 General Motors filed for bankruptcy in New York, with $82 billion in assets and $173 billion in liabilities. It was the largest industrial bankruptcy in history.
General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable that became inevitable after years of losses and market share declines capped by a dramatic...
Why do you think GM collapsed? A company which was started in 1909 went on to stay well ahead in the automobile industry for 100 years collapsed. I understand it is not all of sudden. What...
When General Motors went through the biggest industrial bankruptcy proceedings in history, 20,000 retirees from GM's Delphi Corp. subsidiary saw their retirement savings slashed.
On March 29, 2009, the Obama administration put General Motors and what then was Chrysler on the path to bankruptcy. It was a thunderclap that resounded most loudly in Detroit but...
What happened next was both pivotal in shaping the auto industry for much of the 20th century, and in the face of GM's bankruptcy announced recently, terribly ironic. Beginning in the mid 1920s, GM staged an astounding victory against Ford Motor Company.
Twenty personal injury claimants have lost a bid to file late proofs of claim in General Motors Corp.'s bankruptcy, after a New York bankruptcy judge found they did not show "excusable neglect" for their years-long delays in asserting their claims.
Over the weekend, GM put final pieces in place for a filing: a cost-cutting labor deal got union approval; the U.S. and Germany brokered the sale of its European Opel unit to Canadian parts maker Magna; and more than half its bondholders agreed to a deal to cut its debt.
Motors Liquidation Company (MLC), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to ...