Bankruptcy Court Approves GM Sale

The Bankruptcy Court approved GM's 363 sale on Sunday, July 5, 2009 to sell its best assets to a new, government-backed company, a crucial step for the automaker to restructure and complete its trip through bankruptcy court. With the approval of the restructuring plan, G.M. and the government are seeking to close the sale by Thursday afternoon. The completet text of the decision is posted on SmithLawMt.com on the Dealer Law page.