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IPFS News Link • Economy - Economics USA

GM in "intense" preparations for bankruptcy

04-07-2009 • Reuters

If the plan goes through, the new GM would be expected to assume some previous creditor debt from bankruptcy proceedings, such as secured debt, said the second source, adding that GM bondholders were likely to lose substantial value in bankruptcy.

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Reported By Powell Gammill

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2 Comments in Response to GM in "intense" preparations for bankruptcy

Comment by Brock

Entered on: 4/8/2009 12:01:58 AM

In other news, GM announced a partnership today with the makers of the Segway for the PUMA.

That would indicate a future for a company beyond bankruptcy. Odd. Why didn't GWB or BHO, our great and wonderful leaders, think of that?

Comment by richness

Entered on: 4/7/2009 11:55:08 PM

about damn time.

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GM in "intense" preparations for bankruptcy

2 Comments in Response to GM in "intense" preparations for bankruptcy

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