In exchange for liquidation approval bondholders and creditors will receive a ten percent stake in the new GM structure. This was created from the “good” assets that the company was able to retain as a government-sponsored company.
GM was able to emerge from bankruptcy protection just forty days after if filed in July 2009.
Are you considering bankruptcy? If so, don’t hesitate to contact our law office to speak with a San Antonio bankruptcy attorney who can start working on your case. The bankruptcy process can be complicated and lengthy if you don’t have the right lawyer at your side.