Motors Liquidation Company - Revision history

Red marquis: /* External links */

2010-04-11T02:32:13Z

External links

← Older revision		Revision as of 02:32, 11 April 2010
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	* [http://www.motorsliquidation.com Motors Liquidation Company]		* [http://www.motorsliquidation.com Motors Liquidation Company]
	* http://www.motorsliquidationdocket.com/ — website of the Motors Liquidation Company Claim Agent: Bankruptcy paperwork and related documents		* http://www.motorsliquidationdocket.com/ — website of the Motors Liquidation Company Claim Agent: Bankruptcy paperwork and related documents
	* {{cite news \| title = GM Viability Assessment\| date = March 30, 2009 \| url = http://www.whitehouse.gov/assets/documents/GM_Viability_Assessment.pdf \|publisher = Executive office of the President of the United States \| accessdate = June 4, 2009 }} Assessment of the GM plan of February 17, 2009 presented to the U.S. Government
	*[http://www.guardian.co.uk/business/2009/jun/01/general-motors-bankruptcy-design Bad Design the Driving Force Behind GM's Malaise] by Jonathan Glancey, ''The Guardian'', June 1, 2009		*[http://www.guardian.co.uk/business/2009/jun/01/general-motors-bankruptcy-design Bad Design the Driving Force Behind GM's Malaise] by Jonathan Glancey, ''The Guardian'', June 1, 2009

Red marquis: /* Sale of good assets to New GM */

2010-04-11T02:31:42Z

Sale of good assets to New GM

← Older revision		Revision as of 02:31, 11 April 2010
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	{{cite news \| work = Business Week \| date = June 2, 2009 \| accessdate = June 3, 2009 \| last = Beck \| first = Rachel \| coauthors = (Associated Press) \| url = http://www.businessweek.com/investor/content/jun2009/pi2009062_199863.htm \| title = Corporate Bankruptcy: What Investors Need to Know: When debts outweigh assets, as with GM and Chrysler, protection can help businesses reorganize or liquidate. A guide to bankruptcy's risks and rewards}}		{{cite news \| work = Business Week \| date = June 2, 2009 \| accessdate = June 3, 2009 \| last = Beck \| first = Rachel \| coauthors = (Associated Press) \| url = http://www.businessweek.com/investor/content/jun2009/pi2009062_199863.htm \| title = Corporate Bankruptcy: What Investors Need to Know: When debts outweigh assets, as with GM and Chrysler, protection can help businesses reorganize or liquidate. A guide to bankruptcy's risks and rewards}}
	</ref><ref>		</ref><ref>
	{{cite news\|title=GM files for Chapter 11 bankruptcy protection\|author=James Quinn\|date=2009-06-01\|url=http://telegraph.co.uk/finance/newsbysector/transport/general-motors/5421879/GM-files-for-Chapter-11-bankruptcy-protection.html\|work=[[The Daily Telegraph]]}}</ref> Because the price that these assets are expected to sell for is very high, there is expected to be only one bidder in the auction, a new company NGMCO Inc<ref name="publish.media.gm.com">http://publish.media.gm.com/content/media/us/en/news/news_detail.brand_gm.html/content/Pages/news/us/en/2009/Jul/0706_AssetSale</ref>. This company is formed by the United States government with a 60% stake, the federal government ~~of [[Government~~ of Canada~~\|Canada]]~~ and provincial government of Ontario with a 12% stake, the [[United Auto Workers\|United]] and [[Canadian Auto Workers]] unions<ref>{{cite news\|title=GM Press Release\|date=June 4, 2009\|url=http://blogs.wsj.com/autoshow/2009/06/01/gm-press-release-on-new-gm/\|work=[[Wall Street Journal]]}}</ref> with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake.<ref name=Reuters2 /> The selling company is called Motors Liquidation Company.<ref name = "NYT-Maynard-2009-07-10" >		{{cite news\|title=GM files for Chapter 11 bankruptcy protection\|author=James Quinn\|date=2009-06-01\|url=http://telegraph.co.uk/finance/newsbysector/transport/general-motors/5421879/GM-files-for-Chapter-11-bankruptcy-protection.html\|work=[[The Daily Telegraph]]}}</ref> Because the price that these assets are expected to sell for is very high, there is expected to be only one bidder in the auction, a new company NGMCO Inc<ref name="publish.media.gm.com">http://publish.media.gm.com/content/media/us/en/news/news_detail.brand_gm.html/content/Pages/news/us/en/2009/Jul/0706_AssetSale</ref>. This company is formed by the United States government with a 60% stake, the federal government of Canada and provincial government of Ontario with a 12% stake, the [[United Auto Workers\|United]] and [[Canadian Auto Workers]] unions<ref>{{cite news\|title=GM Press Release\|date=June 4, 2009\|url=http://blogs.wsj.com/autoshow/2009/06/01/gm-press-release-on-new-gm/\|work=[[Wall Street Journal]]}}</ref> with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake.<ref name=Reuters2 /> The selling company is called Motors Liquidation Company.<ref name = "NYT-Maynard-2009-07-10" >
	{{cite news \| date = July 10, 2009 \| accessdate = July 10, 2009 \| work = New York Times \| title = A Primer on the New General Motors \| last = Maynard \| first = Micheline \|		{{cite news \| date = July 10, 2009 \| accessdate = July 10, 2009 \| work = New York Times \| title = A Primer on the New General Motors \| last = Maynard \| first = Micheline \|
	url = http://www.nytimes.com/2009/07/11/business/11primer.html }}		url = http://www.nytimes.com/2009/07/11/business/11primer.html }}

Red marquis: /* Sale of good assets to New GM */

2010-04-11T02:30:59Z

Sale of good assets to New GM

← Older revision		Revision as of 02:30, 11 April 2010
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	{{cite news \| work = Business Week \| date = June 2, 2009 \| accessdate = June 3, 2009 \| last = Beck \| first = Rachel \| coauthors = (Associated Press) \| url = http://www.businessweek.com/investor/content/jun2009/pi2009062_199863.htm \| title = Corporate Bankruptcy: What Investors Need to Know: When debts outweigh assets, as with GM and Chrysler, protection can help businesses reorganize or liquidate. A guide to bankruptcy's risks and rewards}}		{{cite news \| work = Business Week \| date = June 2, 2009 \| accessdate = June 3, 2009 \| last = Beck \| first = Rachel \| coauthors = (Associated Press) \| url = http://www.businessweek.com/investor/content/jun2009/pi2009062_199863.htm \| title = Corporate Bankruptcy: What Investors Need to Know: When debts outweigh assets, as with GM and Chrysler, protection can help businesses reorganize or liquidate. A guide to bankruptcy's risks and rewards}}
	</ref><ref>		</ref><ref>
	{{cite news\|title=GM files for Chapter 11 bankruptcy protection\|author=James Quinn\|date=2009-06-01\|url=http://telegraph.co.uk/finance/newsbysector/transport/general-motors/5421879/GM-files-for-Chapter-11-bankruptcy-protection.html\|work=[[The Daily Telegraph]]}}</ref> Because the price that these assets are expected to sell for is very high, there is expected to be only one bidder in the auction, a new company NGMCO Inc<ref name="publish.media.gm.com">http://publish.media.gm.com/content/media/us/en/news/news_detail.brand_gm.html/content/Pages/news/us/en/2009/Jul/0706_AssetSale</ref>. This company is formed by the United States government with a 60% stake, the federal government of [[Government of Canada\|Canada]] and provincial government ~~of [[Government~~ of Ontario~~\|Ontario]]~~ with a 12% stake, the [[United Auto Workers\|United]] and [[Canadian Auto Workers]] unions<ref>{{cite news\|title=GM Press Release\|date=June 4, 2009\|url=http://blogs.wsj.com/autoshow/2009/06/01/gm-press-release-on-new-gm/\|work=[[Wall Street Journal]]}}</ref> with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake.<ref name=Reuters2 /> The selling company is called Motors Liquidation Company.<ref name = "NYT-Maynard-2009-07-10" >		{{cite news\|title=GM files for Chapter 11 bankruptcy protection\|author=James Quinn\|date=2009-06-01\|url=http://telegraph.co.uk/finance/newsbysector/transport/general-motors/5421879/GM-files-for-Chapter-11-bankruptcy-protection.html\|work=[[The Daily Telegraph]]}}</ref> Because the price that these assets are expected to sell for is very high, there is expected to be only one bidder in the auction, a new company NGMCO Inc<ref name="publish.media.gm.com">http://publish.media.gm.com/content/media/us/en/news/news_detail.brand_gm.html/content/Pages/news/us/en/2009/Jul/0706_AssetSale</ref>. This company is formed by the United States government with a 60% stake, the federal government of [[Government of Canada\|Canada]] and provincial government of Ontario with a 12% stake, the [[United Auto Workers\|United]] and [[Canadian Auto Workers]] unions<ref>{{cite news\|title=GM Press Release\|date=June 4, 2009\|url=http://blogs.wsj.com/autoshow/2009/06/01/gm-press-release-on-new-gm/\|work=[[Wall Street Journal]]}}</ref> with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake.<ref name=Reuters2 /> The selling company is called Motors Liquidation Company.<ref name = "NYT-Maynard-2009-07-10" >
	{{cite news \| date = July 10, 2009 \| accessdate = July 10, 2009 \| work = New York Times \| title = A Primer on the New General Motors \| last = Maynard \| first = Micheline \|		{{cite news \| date = July 10, 2009 \| accessdate = July 10, 2009 \| work = New York Times \| title = A Primer on the New General Motors \| last = Maynard \| first = Micheline \|
	url = http://www.nytimes.com/2009/07/11/business/11primer.html }}		url = http://www.nytimes.com/2009/07/11/business/11primer.html }}
	</ref>		</ref>

	A creditor meeting, at the New York ~~[[Hilton Hotels\|~~Hilton Hotel]], held by the [[United States Trustee Program]], was scheduled for June 3, 2009.<ref name=Scinta />		A creditor meeting, at the New York Hilton Hotel, held by the United States Trustee Program, was scheduled for June 3, 2009.<ref name=Scinta />

	===Hummer collapse===		===Hummer collapse===

Red marquis: /* Bankruptcy filing */

2010-04-11T02:27:36Z

Bankruptcy filing

← Older revision		Revision as of 02:27, 11 April 2010
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	==History==		==History==
	===Bankruptcy filing===		===Bankruptcy filing===
	~~{{wikinewshas\|coverage of the speech and press conference\|~~
	* [[n:Barack Obama presents rescue plan after GM declaration of bankruptcy\|Barack Obama presents rescue plan after GM declaration of bankruptcy]]
	* [[n:Fritz Henderson outlines plan for "New GM" after GM declaration of bankruptcy\|Fritz Henderson outlines plan for "New GM" after GM declaration of bankruptcy]]
	}}
	On the morning of 1 June 2009, Chevrolet-Saturn of Harlem, a dealership in Manhattan that is owned by GM itself, filed for bankruptcy protection there, followed in the same court by General Motors Corporation (the main GM in Detroit), GM's subsidiary [[Saturn\|Saturn LLC]], and Saturn LLC's subsidiary Saturn Distribution Corporation. All cases were assigned to Judge Robert Gerber.<ref>		On the morning of 1 June 2009, Chevrolet-Saturn of Harlem, a dealership in Manhattan that is owned by GM itself, filed for bankruptcy protection there, followed in the same court by General Motors Corporation (the main GM in Detroit), GM's subsidiary [[Saturn\|Saturn LLC]], and Saturn LLC's subsidiary Saturn Distribution Corporation. All cases were assigned to Judge Robert Gerber.<ref>
	{{cite web \| url = http://www.ohiopracticalbusinesslaw.com/2009/06/articles/bankruptcy/gm-follows-nyc-dealership-affiliate-to-obtain-nyc-venue-for-its-bankruptcy/ \| title = GM Follows NYC Dealership Affiliate to Obtain NYC Venue for Its Bankruptcy \| work = Ohio Practical Business Law \| publisher = Teri Ramussen, Plunkett Cooney P.C. \| location = Columbus, Ohio \| date = 2009-06-01 \| accessdate = 2009-06-02 }}		{{cite web \| url = http://www.ohiopracticalbusinesslaw.com/2009/06/articles/bankruptcy/gm-follows-nyc-dealership-affiliate-to-obtain-nyc-venue-for-its-bankruptcy/ \| title = GM Follows NYC Dealership Affiliate to Obtain NYC Venue for Its Bankruptcy \| work = Ohio Practical Business Law \| publisher = Teri Ramussen, Plunkett Cooney P.C. \| location = Columbus, Ohio \| date = 2009-06-01 \| accessdate = 2009-06-02 }}

Red marquis at 02:26, 11 April 2010

2010-04-11T02:26:57Z

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2010-04-10T21:31:47Z

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