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The program was controversial with dealers, many who didn't want to close their dealership or sell their franchise rights. [23] However, Section 363 of the Federal Bankruptcy Code allowed GM to force thousands of dealerships to forfeit their franchise rights. Dealers accused GM of fraud and theft and formed the Committee to Restore Dealer Rights.
Under the reorganization process, termed a 363 sale (for Section 363 which is located in Title 11, Chapter 3, Subchapter IV of the United States Code, a part of the Bankruptcy Code), the purchaser of the assets of a company in bankruptcy proceedings is able to obtain approval for the purchase from the court prior to the submission of a re ...
Ettleson currently owns Ettleson Cadillac-Buick-GMC and Ettleson Hyundai in Hodgkins with his son Michael Ettleson. Celozzi owned Celozzi Ford and Celozzi Chrysler in Waukegan until 2003, when he was forced to declare bankruptcy and shutter the dealerships after one of his former business partners was indicted on fraud charges. [7] [8]
An Eastern District was created on March 3, 1905 by 33 Stat. 992, [5] by splitting counties out of the Northern and Southern Districts. It was later eliminated in a reorganization on October 2, 1978 which replaced it with the United States District Court for the Central District of Illinois District, 92 Stat. 883. [5]
United States Court of Appeals for the Seventh Circuit (headquartered in Chicago, having jurisdiction over the United States District Courts of Illinois, Indiana, and Wisconsin) United States District Court for the Northern District of Illinois [4] United States District Court for the Central District of Illinois [5]
The 6th U.S. Circuit Court of Appeals said a lower court judge had discretion to let drivers sue in groups over Cadillac, Chevrolet and GMC vehicles equipped with 8L45 or 8L90 eight-speed ...
An automobile dealership in Orland, California which closed after General Motors cut ties with it and several hundred other dealers as part of its Chapter 11 bankruptcy restructuring efforts in 2009 [1] Beginning in the latter half of 2008, a global-scale recession adversely affected the economy of the United States.
Complex includes GMC Truck & Coach Division Plants 1, 3, 4, and 5. Plant 1 was originally the plant of Rapid Motor Vehicle Company, one of the 2 main ancestors of the modern GMC Division (the other being Reliance Motor Car Company). Plant 1 was located at 25 Rapid Street and opened in 1906, before Rapid was taken over by GM in 1908-1909.
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