GM 6.1

When General Motors (GM) (GM.N: stock prices, corporate information, and report) goes bankrupt, an Obama U.S. political power is 60 or more to rebuilding. ─The 90th is expected to be required. The official clarified it on the 28th.

This official did not refer a specific scenario of the bankruptcy.

The view of being apply for the application of a federal Bankruptcy Law Article 11 by June 1 becomes strong GM.

President Obama is expected to announce the situation of GM rebuilding according to the White House on June 1. The president announced that Chrysler applied for the application of Chapter 11 on April 30.

This official is more complex for GM that is an international company than Chrysler of the close corporation, and the government points out that time or more is expected to be required even in case of being under a prompt strategy rebuild through the court. It was described, "The period of 60?90 day might be more appropriate than the period similar to Chrysler".

The official also talked about new support to GM by the U.S. government including the debtor-in-possession financing as the prospect to exceed 30 billion dollars. It is said that a Canadian government also will offer the support of about nine billion dollars.

Expectation that United Auto Workers (UAW) has 20% to the U.S. government by new company's shares type 70% or more after rebuilding is completed.

It is expected that the member will partially stay in the director though GM is expected to change the Managing Board member according to the official.

Moreover, car Working Group expects at least 35% of the bond holder of GM of the amendment bill of the debt stocks making to respond. In the amendment bill of the debt stocks making, the bond holder acquires the warrant of 15% in addition to the new corporation's stock 10%. The time limit for answering to this idea by the bond holder is the 30th.

About 20% of the bond holder supports this idea on the 28th.