GM cleared to leave bankruptcy

DETROIT – The path is now clear for General Motors Corp. to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market. On Thursday, a judge’s order allowing GM to sell most of its assets to a new company went into effect, despite a last-minute appeal by plaintiffs in a product liability case. GM spokeswoman Julie Gibson said U.S. Bankruptcy Judge Robert Gerber’s order became effective at 12 p.m. EDT. GM lawyers are working on paperwork to close the…

more