Vauxhall Parent GM Bankruptcy News
Published / Last Updated on 31/05/2009
Vauxhall Parent GM Bankruptcy News
US car giant, GM (General Motors) and owners of the Vauxhall and Opel brand in the UK and Europe looks likely to file for Bankruptcy protection from the US Government today.
Reports on various news channels and websites suggest that current creditors i.e. Corporate Bond Holders have agreed terms for a 10% stake in addition to a 60% to be taken by the US Government in return for an £18.5bn injection.
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