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GM plans comeback a month early

Post Time:Jun 19,2009Classify:Industry NewsView:200

General Motors is preparing to relaunch itself as a leaner company by mid-July, a month earlier than envisaged when the Detroit carmaker filed for bankruptcy protection on June 1.

The judge overseeing GM’s Chapter 11 case has set Friday as the deadline for objections to its restructuring plan for most parties.

Barring a surprise, GM and its advisers are confident that none of the roughly 500 objections submitted so far will derail the timetable, under which the court is due to consider the sale of most of its assets to a new entity on June 30, according to a June 18 Financial Times report.

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