GM gets nod for revised swap offer

 A group of major General Motors Corp bondholders on Thursday gave its support for a revised bond exchange, saying the option of litigation in bankruptcy court was too risky.
“The Committee of GM bondholders supports the revised offer and believes that when contrasted with the alternative – uncertain and costly bankruptcy court litigation – that it represents the best alternative for bondholders in the current difficult and dire situation,” it said.

DH Newsletter Privacy Policy Get top news in your inbox daily
Comments (+)