Judge Denies Appeal, Stay Of GM Sale Order

Law360, New York (July 8, 2009, 12:00 AM EDT) -- The bankruptcy judge overseeing General Motors Corp.'s Chapter 11 case has refused a bid by tort claimants to challenge his order approving the sale of the auto giant before its scheduled closing Thursday, saying the very survival of GM is at stake.

Ruling Tuesday from the bench in the U.S. Bankruptcy Court for the Southern District of New York, Judge Robert E. Gerber said the grant of a stay of his sale order would result in the death of GM and irreparable harm to the carmaker's...
To view the full article, register now.