What Caused General Motors Bankruptcy Pdf On june 1, 2009 general motors filed for bankruptcy in new york, with $82 billion in assets and $173 billion in liabilities. it was the largest industrial bankruptcy in history. harvey miller and. Gm filed for chapter 11 reorganization in the manhattan new york federal bankruptcy court on june 1, 2009, at approximately 8:00 am edt. june 1, 2009, was the deadline to supply an acceptable viability plan to the u.s. treasury. the filing reported us$82.29 billion in assets and us$172.81 billion in debt. [6][7][8][9][10] after the chapter 11.
General Motors Bankruptcy Pdf General Motors Economy Of The A retrospective look at rescuing and restructuring general motors and chrysler . february 19, 2015 . austan d. goolsbee and alan b. krueger* abstract . this paper takes a retrospective look at the u.s. government’s effort to rescue and restructure general motors and chrysler in the midst of the 2009 economic and financial crisis. the paper. The threat of bankruptcy, by allowing the government and general motors to negotiate important deals with gm's unions and a majority of creditors, went a fair distance toward achieving a restructuring that would make it possible for gm to emerge as a viable long term player in the automobile industry. Bankruptcy) july 10, 2009 legal authority funding: tarp via eesa bankruptcy, section 363 of chapter 11 total dip investment $30.1 billion peak treasury ownership 60.8% date of final treasury sale of gm shares december 9, 2013 total loss on tarp investment $11.3 billion . bankruptcy of general motors . 94 journal of financial crises vol. 4 iss. 1. "this is a momentous time in the history of the general motors bankruptcy cases," judge glenn's opinion said. long running case gm and its affiliated entities filed for bankruptcy protection on june 1, 2009, as the automaker struggled under the weight of debt and the impact of the great recession.
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