GM Debtors Say One Creditors Committee Is Enough

Law360, New York (June 18, 2009, 12:00 AM EDT) -- General Motors Corp. has objected to a request by several dissident bondholders to form their own committee, claiming that the official committee for unsecured creditors will adequately represent the bondholders’ interest in the auto giant’s Chapter 11 proceedings.

In an objection filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, the GM debtors argued against a motion by an ad hoc committee asking the court to appoint an official committee representing family and other noninstitutional bondholders.

The ad hoc committee, consisting...
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