Looks like the fight is over folks......

Thursday, June 11, 2009

Forgotten Voices in GM want to be heard

"But the unofficial group of dissident bondholders, represented by Patton Boggs LLP, said all bondholders should receive a higher recovery under bankruptcy's absolute priority rule and questioned whether the 54% tally of supporting bondholders (based on e-mail and telephone calls) is accurate.

"While such an 'agreement' has been touted as a template for all bondholders -- including holders of billions of dollars' worth who have not yet been heard from -- and is now embedded in the transfer of assets scheme ... there are significant questions well beyond whether it is really supported even by a majority" of the bondholders, the group said in its request to become an official committee. See the entire article at:


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