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None of the publicly owned stocks or bonds issued by the former General Motors Corporation (now renamed "Motors Liquidation Company"), including its common stock formerly traded on the New York Stock Exchange under the ticker symbol "GM", are or will become securities of General Motors Company (the "new GM"), which is an independent separate ...
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 ...
General Motors' (GM) hot stock has sprung a leak after its latest earnings report on Tuesday. Shares of the auto giant fell as much as 11% on Tuesday and closed down 9%. It marked the worst day ...
The value of that stock, options and pension has been lost in the bankruptcy restructuring that Congress approved for GM. GM sent letters to tens of thousands of their dealers, supplier executives, employees and union members, asking recipients to call and write Congress with several "talking points" about the potential effects of a GM bankruptcy.
Can General Motors (NYS: GM) be saved? In many ways, it seems like a ridiculous thing to ask. GM sold more cars than any other automaker last year, while generating record profits. GM's debt is ...
The proposed GM public offering has some unusual qualities. For starters, it's not very common for a company to have an IPO a year after filing for Chapter 11 bankruptcy. It has another unique ...
At that time, it was estimated that GM might require $30 billion more to emerge from bankruptcy. [6] By mid-July 2009, both companies had restructured and emerged from bankruptcy. The Task Force was scaled back from "day to day" involvement to periodic "monitoring". [3]
Last night it looked like General Motors (GM) had failed to get its bondholders, who own $27 billion in its debt, to accept a deal to get 10 percent of the new GM in exchange for their bonds. But ...