Yesterday, in a filing with the Securities and Exchange Commission, General Motors announced that it is currently attempting to restructure debt held by the U.S. Treasury Department. Under a current proposal, GM would convert at least 50% of its debt held by the U.S. Treasury Department into common shares. As a result of the conversion Treasury would hold greater than 50% of GM’s common shares.
USA, Insolvency & Restructuring, Alston & Bird LLP, Share (finance), Shareholder, Data, Debt, US Securities and Exchange Commission, European Commission, US Department of the Treasury, United Automobile Workers, General Motors