US bankruptcy judge approves GM's restructuring plan | autos | Hindustan Times
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US bankruptcy judge approves GM's restructuring plan

A US bankruptcy judge approved a restructuring plan for troubled car manufacturing giant General Motors that calls for selling its assets to a new government-backed company.

autos Updated: Jul 06, 2009 10:06 IST

A US bankruptcy judge late Sunday approved a restructuring plan for troubled car manufacturing giant General Motors that calls for selling its assets to a new government-backed company.

"The 363 transaction is approved," Judge Robert Gerbert wrote in his ruling, referring to the plan.