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GM bankruptcy plan includes government debt relief: source

2:06 PM Tue, May 19, 2009 |
Peter C. T. Elsworth    Email

General Motors' bankruptcy plan includes the sale of healthy assets to a new company, owned by U.S. government, a source said on Tuesday, according to Reuters.

* Bankruptcy plan includes proposal for labor, old unsecured creditors to get

stock in new company: source

* Secured creditors claims will transfer to new company-source

* Plan calls for U.S. to extend credit line to new company; Treasury to forgive

bulk of $15.4 billion of loans: source

* Plan calls for Fritz Henderson to be CEO of the new GM: source

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 Tags  bankruptcy General Motors

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Debt management plan--Debt management plan

Link | October 2, 2009 6:12 PM
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foreclosure prevention said:

Debt relief isn't considered as a pandemic cause it's acceptable to acquire. And it's not contagious. You will have to think more about it.

Link | October 10, 2009 10:09 AM
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