GM Creditors’ Lawsuit Over 2009 Bankruptcy Deal Could Cost Nearly US$1 Billion:Image for pc wallpaper

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GM Creditors’ Lawsuit Over 2009 Bankruptcy Deal Could Cost Nearly US$1 Billion

Despite making an impressive comeback in the past three years and having recently started the process of buying back the U.S. Treasury’s shares, General Motors is still facing problems connected with its 2009 bailout.

After General Motors Corp., aka the “old” GM, filed for bankruptcy, its best assets were sold to General Motors Co., the “new” GM, and the remainder remained with the “old” company to be liquidated in order to pay back its creditors.