Court Clears Path to 'New' GM

Court ordered stay on asset sale expires
By Nick McMaster,  Newser Staff
Posted Jul 9, 2009 1:55 PM CDT
This June 1, 2009, file photo, shows General Motors CEO Fritz Henderson speaking at a news conference in New York.   (AP Photo/Seth Wenig, file)
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(Newser) – General Motors is set to complete its bankruptcy reorganization, the Detroit Free Press reports. The sale of certain GM divisions to the “new” GM—largely owned by the US Treasury—is expected to happen tomorrow, at the expiration of a holding period for opponents of the deal to make objections. Two unidentified parties, likely GM creditors, had sought to file appeals, but their requests were denied.