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Non-Tech : GM - General Motors
GM 68.24-1.2%9:30 AM EST
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From: Arthur Tang7/9/2009 7:19:39 PM
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The GM that exits the chapter 11 is the MPA financed by the government.

The part that remains in chapter 11 is the old GM and its stockholders. There are substantial assets that had to be sold, many will be used to pay off lawyers. But some prospects are tax loss carried over which the new MPA(GM) has to buy by merging with the old GM? Or else GM stockholders will have their share of the tax loss carry over from IRS.

Then, there might be the option to purchase MPA stocks that will be given to the old GM stockholders?

It is not a clear cut chapter 11 exit at all. MPA is not chapter 11 exit legally. It is a new company that bought the best assets of GM. The chapter 11 of the old GM will take years to exit.
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