GM Should Eye Prepackaged Bankruptcy Plan: Expert

Law360, New York (November 11, 2008, 12:00 AM EST) -- Amid speculation that embattled General Motors Corp. could collapse with or without a government bailout, the company’s best bet may be to start putting together a prepackaged bankruptcy — that is, if it is not already too late, according to a bankruptcy expert.

Mark I. Bane, a partner of Ropes & Gray LLP, said filing for bankruptcy could be devastating for the car manufacturing giant as well as the fleet of suppliers that depend on it to stay afloat, but a prepackaged plan could be helpful...
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