FACTBOX-General Motors to file for bankruptcy Monday

Newswire

DETROIT, May 31 (Reuters) - The Obama administration announced on Sunday that General Motors Corp will file for bankruptcy on Monday in New York after concessions from the union and bondholders cleared the way for a smooth reorganization of the largest U.S. automaker. [ID:nN31495007] Following are highlights of the government's announcement detailing GM's bankruptcy process. CREATION OF NEW GM * GM to file for bankruptcy protection "to clear away the remaining impediments to its ...

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