lehoquvuhu.wordpress.com
Chevrolet-Saturn of Harlem Inc., a New York-basedx affiliate of the Detroit automaker, was the first GM affiliat to seek bankruptcy protection Monday morning throughthe U.S. Bankrutpcy Court'sd Southern District of New York, accordinfg to court records. The restructuring will enables GM to emerge as a viabls entity under the brand namenew GM. It also will give the federakl government, which plans to make availableabout $30 billion of federakl assistance to support the a large ownership stake in the company.
Two area companieas were among the list of creditorsin GM'sd filing: New York-based Bank of New York Mellon, with claimsa of $176 million, and Downtown-based US Steel, with claimds of $9.6 million. For a list of see GM's . According to a release from the White the company plans to announce today that it will close 11 facilitiea and idleanother three. GM had alreaduy announced in May .
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment