RSSAP source: GM emerges from bankruptcy
From: The Washington Times | July 10, 2009
UPDATED: DETROIT (AP) — The new General Motors arose on Friday as lawyers finished an all-night paperwork session transferring the automaker’s good assets to a brand-new company controlled by the U.S. government. The massive transfer of factories, money and intellectual property was completed about 6:30 a.m., according to a person briefed on the situation, clearing the way for a smaller and faster company better equipped to compete in the brutally tough global automotive market. The person, who asked to remain anonymous because the deal wasn’t announced officially, said the signing meant the new GM had emerged from bankruptcy. One bankruptcy …
Filed Under The Wire
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