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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.
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.
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Jun 2, 2009 · GM filed for Chapter 11 protection against its creditors' demands at 8am local time after racking up losses of $81bn (£50bn) over four years, putting a veteran bankruptcy judge, Robert Gerber,...
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.
Jun 2, 2009 · A. No. G.M. is reorganizing under Chapter 11 of the United States Bankruptcy Code. The law allows companies to sell assets, restructure debt, cancel contracts and close operations that normally...
The highly publicized Chapter 11 cases of Chrysler LLC and General Motors Corpora-tion (GM) have changed existing bankruptcy practice. The trend toward using Chapter 11 to effect the sale of a debtor’s business has literally received the federal government’s seal of approval.
