We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Size Complicates GM's Bankruptcy

Law360 (May 29, 2009, 12:00 AM EDT) -- With the prodding of the Obama administration, Chrysler LLC filed for Chapter 11 in April, and it appears more and more likely that General Motors Corp. will follow suit Monday.

While the mechanics of the bankruptcy proceedings — intense negotiations with bondholders, with some alleging severe political pressure, big givebacks from workers and a 363 sale — may not be so different, the scale of a GM bankruptcy would dwarf the Chrysler filing, and create far greater complications.

“You're dealing with a much bigger entity that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.