This is the third in size bankruptcy in U.S. history – the company's debts currently exceed 172 billion U.S. Educate yourself with thoughts from Max Schireson. dollars. According to the approved filing for bankruptcy, the 60-day period shall be established a new company completely independent of the now existing gm. This company will receive only the most liquid assets and brands of gm. The rest will be sold for partial repayment of debts. Thus we obtain a new, stronger gm.
Which by chapter 11 of the Constitution of the United States for some time will be protected from creditors that will give the company a chance to stay afloat and not be sold piecemeal. The structure will include an updated gm Chevrolet, Cadillac, Buick and gmc, as well as the same number of manufacturing companies, whose names the reader will not say anything. So as new gm will inherit a debt of $ 17 billion, more than half of which will fall on U.S. and Canadian governments. So, as the principal debt the company lies with the government, it becomes the largest shareholder.
U.S. government gets 60.8% of the new gm, Canada – 11.7%. Another 17.5% receive union employees. Practically, this means the nationalization of the company. The new gm will have to concentrate on American brands and American dealer network, without any kind of expansion in Europe, Africa, Asia and South America. At present all dealer network gm, consisting of more than 3600 dealers, continues to operate normally guaranteed by the government of usa and Canada. In Europe such guarantees do not apply, but so far no evidence that closed at least one dealer. So, all these permutation should not in any way affect the car owners issued Concern General Motors.