日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global General

Special

Newsmaker

Asia Pacific

America

Middle East

Europe

Africa

Judge gives final OK to GM bankruptcy financing

(Agencies)
Updated: 2009-06-25 23:42

NEW YORK: A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing.

Related readings:  GM vows to meet Obama's target  Iacocca urges GM to keep govt out of business  New GM boss 'knows nothing' about cars  Foreign brands gain US entry with GM's dismantling  GM plan could drive bond market crazy

Judge Robert Gerber gave final approval to the financing after he had given preliminary approval earlier this month for GM to use $15 billion of the total.

The billions in US and Canadian government financing are intended to keep the Detroit-based automaker going until it can sell its assets to a new company and emerge from bankruptcy protection.

The US government will take a 60 percent ownership stake in the new company, and the Canadian government will get 12.5 percent. The United Auto Workers union and GM's unsecured bondholders will own the rest.

Later in Thursday's hearing, a group of retired GM workers concerned about losing their benefits was expected to ask that they be granted their own committee, which would entitle them to have their legal fees paid by the automaker's estate.