Judge To Reverse GM Bailout?
What? Rule of law? We’ll have none of that in Obama’s America.
A New York federal judge may rule imminently on a case that could reverse the General Motors (GM) bailout and send the company back into bankruptcy, according to sources close to the case[...]
The company is taking the possibility of a negative ruling from Gerber very seriously. GM attorneys filed court documents saying that the lawsuit “could create a chaotic situation for GM Canada, spawn new litigation in other forums, and potentially provide a windfall to the noteholders.”
The bankruptcy expert said if the two sides cannot come to an agreement on Thursday, Gerber could preside over one of the most historic rulings in bankruptcy court history.
“This has tremendous implications for future of American business and bankruptcy precedent,” he said. “It means more than just GM—this is the rule of law and how creditors are treated in the United States legal system.”
2012-12-06 18:03:54
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Whistler Blowers, Insiders
The U.S. Government owns 61% of the Corporation as part of the bailout and yet they continue to invest all of their money in new factories in China. How can the Government claim to be concerned about unemployment and invest another $1.6 Billion in China with the recent announcement of the new factory there? That is why the Bailout should be overturned, the taxpayers are supporting the offshoring of their own jobs, under the current agreement. I hope they rule against Government Motors.