hypocritexposer
Well-known member
General Motors announced this morning that its bondholders had rejected a plan to give almost 40% of a restructured GM to the UAW while they got only 10% for their investment.
GM needed 90% of its bondholders to agree to the government-imposed deal for it to win approval and keep the company out of bankruptcy. Instead, GM says they got “substantially less” cooperation from their creditors:
http://www.usatoday.com/money/autos/2009-05-27-gm-bondholders_N.htm?csp=34
GM needed 90% of its bondholders to agree to the government-imposed deal for it to win approval and keep the company out of bankruptcy. Instead, GM says they got “substantially less” cooperation from their creditors:
http://www.usatoday.com/money/autos/2009-05-27-gm-bondholders_N.htm?csp=34