A US judge has rejected a last minute request by a group of personal injury claimants to delay the sale of the profitable parts of General Motors.
There is now nothing to stop GM selling the best parts of the business to a government-funded “new GM”.
Once that has happened, the way will be clear for the carmaker to emerge from Chapter 11 bankruptcy protection.
GM has scheduled a news conference in Detroit on Friday morning, but has not confirmed what it will be about.
Judge Lewis Kaplan rejected the request for a delay from a group who are pursuing a product liability claim relating to the Chevy Malibu on the grounds that delaying the sale would probably lead to the liquidation of GM.
Source: BBC News