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penknee

07/21/16 3:51 PM

#25078 RE: OBE #25057

It was a pre planned bk to protect jobs. If you had a lawsuit against GM you were screwed, as it went into the old GM company, but the balance sheet was better off. SUNEQ doesn't really get that benefit, but when they come out of bk they will be a much leaner co. Secured creditors will own quite a large chunk here, just as our government owned a lot of GM.