Yahoo! Finance
05-27-2009, 08:05 AM
<b>Yahoo! Finance: Mutual Fund News</b>
In the end, General Motors' massive cash needs likely trumped any chance of the automaker avoiding a bankruptcy court-supervised reorganization. General Motors Corp. is expected to announce early Wednesday that only a small fraction of the holders of its $27 billion in bonds agreed to swap that unsecured debt for a 10 percent equity share of a recapitalized GM.
complete story here... (http://us.rd.yahoo.com/finance/news/rss/story/*http://biz.yahoo.com/ap/090527/us_gm_bondholders.html?.v=7)
In the end, General Motors' massive cash needs likely trumped any chance of the automaker avoiding a bankruptcy court-supervised reorganization. General Motors Corp. is expected to announce early Wednesday that only a small fraction of the holders of its $27 billion in bonds agreed to swap that unsecured debt for a 10 percent equity share of a recapitalized GM.
complete story here... (http://us.rd.yahoo.com/finance/news/rss/story/*http://biz.yahoo.com/ap/090527/us_gm_bondholders.html?.v=7)