Court Approves Formation of New GM

Courtesy Digg - Business & Finance  Mon, 07/06/2009 - 16:30

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.


 

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