GM 363 Sale Approved 7/5/09

Sadly, the sale for GM best assets to a new Government controlled entity was approved as a means of circumventing the Chapter 11 bankruptcy and negotiating with the creditors.

See the Court decision here:

http://gmcourtdocs.gardencitygroup.com/pdflib/2968_50026.pdf

See Wall Street Journal article:

http://online.wsj.com/article/SB124685350559099233.html

I assume the appeals by various parties will be filed within the next few days.