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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 ...
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.
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 ...
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 ...
Industrials editor Brendan Byrnes discusses GM hitting a post-bankruptcy low. This looks like a very attractive entry point, as the stock trades at only five times earnings. While the auto company ...
Based on an assessment that automobile manufacturing was a critical sector of the economy providing 3 to 4 million jobs for Americans, that liquidation was imminent for two of the three major U.S. automakers, and that the break ups would devastate the U.S. economy, the U.S. government became involved in the day-to-day management decisions of ...
The bankruptcy of General Motors Corp. (GM) is almost as inevitable as the sun rising or the New York Mets collapsing in September. GM is going beyond an earlier plan to slash debt by 46 percent ...