Obama Takes Early Shots At GM Dissidents

Law360, New York (June 1, 2009, 12:00 AM EDT) -- With dissident bondholders already queuing up to oppose the Section 363 sale of General Motors Corp. to a new entity in which the U.S. Department of the Treasury would hold the majority stake, President Obama and others in the federal government moved Monday to blow the opponents' arguments out of the water early.

General Motors filed for bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York early Monday, listing assets of $82.3 billion and liabilities of $172.8 billion. A hearing before Judge...
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