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

Wednesday, June 10, 2009

GM section 363 bankruptcy plan = stealth re-organization plan?

Is the GM section 363 bankruptcy plan really a stealth re-organization plan?

"The problem is that General Motors is a whole different case altogether. And I am not so sure the government is going to be successful here. Here’s why. While the Chrysler deal involved a sale of the principal assets, the GM bankruptcy looks more like a stealth re-organization which violates the spirit of section 363. Back in 2004, Daniel Glosband, a bankruptcy expert at the law firm Goodwin Proctor reflected on this issue at the site FindLaw." See the entire article at:


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