GM demands $30 billion more!

Detroit automaker to file for Chapter 11 bankruptcy.

Detroit, MI(–General Motor Corporation (GM) is expected to file for Chapter 11 bankruptcy protection in federal court on Monday, reported the Detroit Free Press on Friday. The American automaker headquartered in Detroit will attempt to restructure itself with even more federal government financing.

The new GM will be owned by the United States government, which means American taxpayers, and the United Auto Worker’s (UAW) health care trust plus current GM bondholders. The U.S. Treasury Department will give at least another $30 billion on top of the already $19.4 billion the Detroit automaker already received in U.S. tax dollar relief funds. General Motors, the largest American automobile, SUV and light truck manufacturer heads Buick, Chevrolet, Cadillac, GMC and Pontiac brands. A federal judge will decide on the Chapter 11 filing. news for Michigan business litigation attorneys.

About the Author Justice Seeker

Heather L. Ryan, R.N., C.L.N.C- Heather Ryan is a Certified Legal Nurse Consultant with 15 years of experience in the health care industry. Her expertise in reviewing medical records and assisting lawyers with the determination as to whether legal action should be taken provides an invaluable asset to the newsroom. Medical-malpractice, products liability, personal injury and workers’ compensation are some of the recent areas of litigation Ms. Ryan has focused her efforts on. A member of the Florida Justice Association, Heather maintains a long list of certifications and credentials to support her areas of expertise and stays up-to-date with her clinical knowledge working as an emergency room/trauma nurse, at a Level 1, Adult/Pediatric trauma and teaching institution in South Florida.