GM: A Model for How Bankruptcy Works?

general motors how bankruptcy works

General Motor’s record profit for the year 2011 is making headlines these days, with President Obama and others claiming the profit points to the success of government bailout. Just two years ago the company was in dire straits and filing for bankruptcy; closing plants, winning changes in labor contracts, and losing the weight of weaker

The “341 Hearing” – What Should I expect?

The "341 Hearing" - What to Expect

    The “341 Hearing” – What to Expect   The creditors’ meeting, otherwise known as 341 meeting, is a procedural step in every Chapter 7 and Chapter 13 bankruptcy.  In a typical 341 meeting, the debtor will be asked questions under oath by the bankruptcy trustee with respect to his or her financial affairs. 

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