国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

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.