Federal Bankruptcy Court Judge Robert Gerber approved the sale of most General Motors assets to a new corporation to be owned by the governments of the United States, Canada and the province of Ontario, the United Auto Worker’s Voluntary Employee Benefit Association trust (“VEBA”), and GM bondholders.  Gerber today also denied a “fast track” appeal to [...]

On April 30, Chrysler, LLC and numerous of its related subsidiary companies filed for Chapter 11 bankruptcy protection in the Southern District of New York Bankruptcy Court. Chrysler will continue to operate as a going concern, while it attempts to quickly confirm a Chapter 11 Plan, of Reorganization.  An Obama administration official predicted the reorganization would [...]