After months of back and forth and huge amounts of uncertainty, the future for GM appears to be heading towards bankruptcy. The mammoth car marker is expected to file for bankruptcy on Monday.
General Motor’s bondholders completed voting Saturday on the company’s plan to exchange their debt for an ownership stake as high as 25 per cent in G.M, which now clears way for an orderly bankruptcy.
G.M.’s shares hit a 75 cent-low on Friday, down 33 per cent.
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