GM Agrees To Carry Car Liability Claims Post-Sale

Law360, New York (June 29, 2009, 12:00 AM EDT) -- General Motors Corp. has agreed to bear responsibility for all past and future vehicle liability claims after its planned emergence from bankruptcy protection, in a last-minute attempt to smooth over one set of objections to the sale of the majority of its assets to the U.S. government.

GM said in a court filing Friday that it would revise its proposed sale agreement — in which it plans to offer the government a 60 percent stake in a new company containing viable GM assets in exchange for...
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