Dissident GM Bondholders' Committee Bid Nixed

Law360, New York (June 23, 2009, 12:00 AM EDT) -- A group of dissident General Motors Corp. bondholders’ bid to form its own official committee in GM’s Chapter 11 proceedings was reportedly rejected Tuesday by the judge overseeing the automaker’s bankruptcy.

Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York rejected the bondholders’ motion for an order directing the U.S. trustee in the GM case to appoint an official committee of family and dissident GM bondholders, the Associated Press reported.

Official committees can have their legal costs covered by a...
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.