GM could face legal objections on several fronts. Bloomberg reports, "GM creditors face a June 19 deadline to oppose a plan to create a streamlined company with trimmed debt and wage costs." New York attorney Michael Richman, who has been retained by a small group of individual GM investors to consider action, told Bloomberg "GM is completely different from Chrysler on the essential facts, and the Supreme Court made no decision other than to reject the appeal in Chrysler, so it has no precedential effect on our situation."
See the article in US News at:
http://usnews.rankingsandreviews.com/cars-trucks/daily-news/090611-GM-Bankruptcy-May-be-Next-Up-at-Supreme-Court-/
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