PREVIEW-General Motors to seek approval to sell itself

Newswire

By Emily Chasan NEW YORK, June 29 (Reuters) - General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a "New GM" in a plan to reinvigorate the automaker under U.S. government ownership. GM is seeking approval for the sale from U.S. bankruptcy Judge Robert Gerber just 30 days after filing for Chapter 11. Under the deal, brokered by the Obama administration's autos task force, the company would sell its assets under Section 363 of the bankruptcy ...

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