Last Friday, financial services group Dexia SA announced that it had reached an agreement with the European Commission relating to its restructuring plan. Dexia had previously received approximately €6.4 billion in bailout money from Belgium, France and Luxembourg. Pursuant to the negotiated restructuring plan, Dexia will:
European Union, Banking, Insolvency & Restructuring, Alston & Bird LLP, Dividends, Asset management, Liability (financial accounting), Bailout, Balance sheet, European Commission, European Commissioner for Competition
On Friday, the new General Motors (GM) began operations with a new corporate structure, and is now primarily owned by the governments of the U.S., Canada and Ontario, along with the UAW Retiree Medical Benefits Trust. The result of an asset sale approved by the bankruptcy court on July 5, the new GM will narrow its focus to four core brands (Chevrolet, Cadillac, Buick and GMC). Also, the number of U.S.
USA, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Brand, United Automobile Workers, General Motors, United States bankruptcy court