GM Gets OK To Tap $33.3B In DIP Financing

Law360, New York (June 25, 2009, 12:00 AM EDT) -- General Motors Corp. has been given final approval by a bankruptcy judge to access $33.3 billion in debtor-in-possession financing from the U.S. and Canadian governments to keep the carmaker afloat during its reorganization process, while a group of tort claimants has abandoned its bid to form an official committee in the case.

Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York issued a final order authorizing use of the cash collateral at a hearing Thursday.

GM was given interim approval...
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