Yesterday, we had posted that General Motors finally got approval for the transfer of assets to the “New” GM. And while many approved and disapproved that piece of news, GMAC issues a statement of their own regarding this development.
In conjunction with the closing of the sale, the contracts GM has with GMAC will be transferred to the new GM entity. GMAC is pleased to conduct its business operations with the new GM entity and to be part of the solution to stabilize and strengthen the U.S. auto industry.
Again this is bound draw some issues. What about the debts and liabilities? What fate does befall them? Technically, we have been talking about the assets or the so-called good sides of the deal. What about the other pieces of the GM puzzle that are totally clueless to date?
Well you can be assured that GM will be in the headlines once again from hereon. There are still some loose ends to cover.
(Source) Press
Tags: assets, auto industry, business operations, conjunction, contracts, court bankruptcy, debts, General Motors, GM, GMAC, headlines, liabilities, loose ends, puzzle, u s auto
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