GM Salaried Retirees Lose Bid For Ch. 11 Committee

Law360, New York (July 8, 2009, 12:00 AM EDT) -- Discounting claims that General Motors Corp.'s restructuring endangers the benefits of nonunion retirees, a bankruptcy judge has refused to appoint an official committee to represent more than 122,000 salaried retirees and surviving spouses.

After a hearing on the issue in June, Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York found Tuesday that the creation of a committee was not necessary to safeguard the interests of the GM retirees.

On June 2, the General Motors Retirees Association urged Judge...
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