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NEW YORK (AP) — A bankruptcy judge has ruled that General Motors Corp. can sell the bulk of its assets to a new company, potentially clearing the way for the automaker to quickly emerge from bankruptcy protection. U.S. Judge Robert Gerber said in his 95-page ruling late Sunday that the sale was in the best interests of both GM and its creditors, whom he said would otherwise get nothing. "As ...
A bankruptcy judge said late Sunday that General Motors Corp. can sell the bulk of its assets to a new company, clearing the way for the automaker to quickly emerge from bankruptcy protection.
GM's government-backed plan for a quick exit from Chapter 11 bankruptcy protection hinges on the sale, which will allow the automaker to leave behind many of its costs and liabilities, including a Moraine, Ohio, assembly plant that's slated to close.
Interested individuals can stop by Moraine Park Technical Colleges Beaver Dam, Fond du Lac and West Bend campuses between 2:30 and 6 p.m. Wednesday, July 15, to learn more about the colleges programs and services.
Federal Judge Robert Gerber ruled late Sunday that the sale is needed to avoid "immediate and irreparable harm" to GM and is in the best interests of both the automaker and its creditors.
NEW YORK — A bankruptcy judge has ruled that General Motors Corp. can sell the bulk of its assets to a new company, potentially clearing the way for the automaker to quickly emerge from bankruptcy protection.
NEW YORK - A bankruptcy judge said late Sunday that General Motors Corp. can sell the bulk of its assets to a new company, clearing the way for the automaker to quickly emerge from bankruptcy protection. Photo by Associated Press
Eds: ADDS photo, TRIMS. Moving on general news and financial services.
AP In a June 30, 2009, file photo General Motors CEO Fritz Henderson leaves bankruptcy court in New York. NEW YORK (AP) - A bankruptcy judge said General Motors Corp. can sell the bulk of its assets to a new company, clearing the way for the automaker to quickly emerge from bankruptcy protection.
(AP:NEW YORK) A bankruptcy judge said General Motors Corp. can sell the bulk of its assets to a new company, clearing the way for the automaker to quickly emerge from bankruptcy protection.
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