[ad#ad-1]
So GM finally gave it’s anouncement after President Obama gave them an Ultimatum for making a deal with bondholders that they have come to an agreement.
President Obama wanted to force GM to go bankrupt as He (and his advisors) would see fit on Monday if General Motors management could not come up with an agreement on how to settle the bondholder issue and restructure. After a few failed attempts they finally came to a mutual agreement and it seems things can finally move on.
[ad#blog2_horizontal-2]
Yes, GM stills plans to file for bankruptcy but under a 363 filing which would allow for continue reading…