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GM filed for Chapter 11 reorganization in the Manhattan New York federal bankruptcy court on June 1, 2009, at approximately 8:00 am EDT. June 1, 2009, was the deadline to supply an acceptable viability plan to the U.S. Treasury. The filing reported US$82.29 billion in assets and US$172.81 billion in debt.
On the June 1, 2009, General Motors filed for Chapter 11 bankruptcy after failing to successfully negotiate deals with bond holders. On the day the application was made, General Motors was largely a nationalized institution (the U.S. government owning 60% and the Canadian 12.5%), the remaining private stakes mainly being owned by employees.
General Motors (GM) is an American ... General Motors Canada was not part of the General Motors Chapter 11 bankruptcy. Post-reorganization ... pensions, as well as ...
Compared to other legacy American car manufacturers, General Motors has had the opportunity to restructure its pension liabilities and negotiate better terms with union workers during the ...
One of the most overlooked problems with Ford and General Motors in recent history was their massively underfunded pension plans. Consider that at the end of 2012 Ford's global pension plan was ...
General Motors said today it's taking a number of steps to reduce its debt and pension liabilities. The Detroit automaker said it will repay $2.8 billion it owes to the United Auto Workers retiree ...
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. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to ...
Prudential completes pension transfer agreement with General Motors Co. NEWARK, N.J.--(BUSINESS WIRE)-- The Prudential Insurance Company of America, a Prudential Financial, Inc. company (NYS: PRU ...