Ch. 11-Bound GM Reaches Deals With Magna, UAW

Law360, New York (May 29, 2009, 12:00 AM EDT) -- As General Motors Corp. inches closer to an expected Chapter 11 filing, Canadian firm Magna International Inc. has reportedly reached a tentative deal for the U.S. automaker's European operations while United Auto Workers union members at GM have agreed to certain key concessions.

The UAW said Friday that 74 percent of GM production worker and skilled trade worker members voted to ratify the settlement with the company and the U.S. Treasury, modifying a collective bargaining agreement and making modifications to a Voluntary Employee Beneficiary Association trust....
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