From: Breaking Legal News
General Motors cleared a major hurdle toward a quick exit from
bankruptcy as a judge approved a government-backed plan to create a
"new GM" that sheds major debts of the ailing Detroit automaker.The
ruling released late Sunday paves the way for a "reinvention" of
GM, which filed for bankruptcy protection on June 1 and has vowed
to emerge as a leaner, more profitable company once freed from its
burdensome debts.Judge Robert Gerber said he had examined about 850
objections to the restructuring plan raised by GM bondholders and
others, but found there were "no realistic alternatives" to the
asset sale."As nobody can seriously dispute, the only alternative
to an immediate sale is liquidation -- a disastrous result for GM's
creditors, its employees, the suppliers who depend on GM for their
own ...
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Court rejects new appeal of Chrysler sale
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pension funds' effort to block the sale.In the latest appeal, the
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Examiner in Washington Mutual bankruptcy seeks subpoena power, submits work plan
WaMu examiner submits work plan DOVER, Del. —
The independent examiner appointed to review claims and assets in
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be held Tuesday. The judge appointed the examiner after
shareholders .... Source article : Examiner in Washington
Mutual bankruptcy seeks subpoena power, submits work plan.
Newspaper publisher Heartland files for Chapter 11
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protection on Monday after agreeing with its major lender on a plan
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Fed Draws Court's Eyes in Lehman Bankruptcy
A court-appointed examiner investigating Lehman Brothers Holdings
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