Old General referred to the Court debt new programmes
An integrated electric super car, old General Motors reported (i.e. auto clearing corporation) that have been submitted to the United States Court of unsecured debt settlement of new programmes.
If the application is approved, the old common assets and liabilities will be managed by the four trust company. Old general plans to hold a new common stock and warrants to unsecured creditors.
GM year to its high-quality assets as Chevrolet and ranked United States Cadillac finance injected new definitive, and went out of the bankruptcy protection program, and its non-performing assets and liabilities in auto clearing corporation or old General.
Old General holds new ordinary shares of General 10% and 15% of the warrants. Old universal is expected in the first quarter of 2011 will get court approval. Debt new programme is approved, the old common in two years will satisfy most unsecured debt.