Breaking: GM bondholders reject plan, setting stage for bankruptcy

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thewiseguy

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Tue May-26-09 12:38 PM
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Breaking: GM bondholders reject plan, setting stage for bankruptcy

CNBC sources are saying that GM will likely file for bankruptcy anytime after midnight but before monday. Right now GM only has low single digit interest from the bondholders. For them to avoid bankruptcy they need to gain the interest of 90 percent of bondholders.

http://www.cnbc.com/id/30944330

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