Is it true that GM will go bankrupt?
Is it true that GM will go bankrupt?
Yes, GM will be forced to declare bankruptcy. Although yesterday’s drop in share price had more to do with the release of the short-selling ban on GM stock than anything else, it’s indicative of the bigger picture.
What happens to the GM Pension Plan in bankruptcy?
In GM’s case, management has been working with the unions and the government to devise a restructuring plan that will be proposed to the bankruptcy judge. It is highly likely that the plan will be approved, although there may be some alterations.
What happens to the house if the husband goes bankrupt?
If the house is in the sole name of the wife, then the house will not vest in the trustee at all. But, if the husband transferred the house to his wife either in whole or in part within the five years prior to him becoming bankrupt, the trustee can challenge that transfer as being a gratuitous alienation.
Can a civil partnership be bankrupt after divorce?
One or other or both parties to a marriage or civil partnership might become bankrupt while negotiations are continuing post separation, or during proceedings in court, or even after an agreement has been entered into or a decree of divorce has been granted.
Why was GM in bankruptcy just two years ago?
It’s a remarkable turnaround for a company that just two years ago was battling a PR nightmare over deaths related to a flawed ignition switch and one of the deadliest auto recalls in history. It’s hard to believe that GM was in bankruptcy just seven years ago and needed a government bailout to stay alive.
In GM’s case, management has been working with the unions and the government to devise a restructuring plan that will be proposed to the bankruptcy judge. It is highly likely that the plan will be approved, although there may be some alterations.
How does a divorce affect your financial situation?
Divorce and bankruptcy can have an impact your financial situation in different ways, depending on your ex-spouse’s new circumstances. Bankruptcy allows debtors (individuals or businesses) who owe creditors more money than they can afford to pay to manage their debt in an orderly fashion through court intervention.
What are the unfunded pension liabilities of General Motors?
One large claim that could theoretically be cut back is the unfunded portion of GM’s pension liabilities. GM has made pension promises costing approximately $100 billion in today’s dollars.