New General Motors expected to exit Chapter 11 (AP)

Courtesy Ytop stories  Thu, 07/09/2009 - 10:37pm

The General Motors headquarters is seen in Detroit, Thursday, July 9, 2009.<br /><br />The path is now clear for General Motors Corp. to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.<br /><br />On Thursday, a judge's order allowing GM to sell most of its assets to a new company went into effect, despite a last-minute appeal by plaintiffs in a product liability case.<br /><br />(AP Photo/Carlos Osorio)AP - After a night spent signing mounds of paperwork authorizing the transfer of cash, real estate, technology and other property, GM attorneys are expected to officially usher the new General Motors out of bankruptcy protection on Friday and onto a path toward a hopefully profitable future.




 

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