GM Warns It May Be Forced Into Bankruptcy

Law360, New York (March 5, 2009, 12:00 AM EST) -- General Motors Corp. said Thursday that its auditors had raised “substantial doubt” about the company's survival absent a bankruptcy filing.

In an annual report filed with the U.S. Securities and Exchange Commission, GM said its future was dependent on executing the viability plan it filed with the government last month, which calls for $12 billion in additional federal loans.

“If we fail to do so for any reason, we would not be able to continue as a going concern and could potentially be forced to seek...
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