Auto Bailout Designed With Bankruptcy In Mind

Law360, New York (December 9, 2008, 12:00 AM EST) -- Even as news broke that General Motors had hired Weil Gotshal's famed bankruptcy lawyer Harvey Miller, the debate in Congress over a rescue plan for the flagging U.S. auto industry turned into a tightrope walk between bailout and bankruptcy.

In addition to Miller, GM also hired AlixPartners' Jay Alix, Evercore Partners' William Repko and Blackstone Group's Arthur Newman to work on a possible restructuring, the Wall Street Journal reported Thursday evening.

Meanwhile, Congressional Democrats have been working to pass legislation this week that would give General...
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