Collier Authors Featured in Recent GM Bankruptcy News

Collier Authors Featured in Recent GM Bankruptcy News

 
As the likelihood of a GM bankruptcy has increased with reports that Steven Rattner, chief of President Obama’s auto task force, has instructed GM officials to seriously consider bankruptcy as an option, Collier authors have been featured in recent news regarding the GM bankruptcy plan.
 
In the April 1 Bloomberg article, “GM Use of Bankruptcy to Survive Will Encounter Delay,” Collier Business Workout Guide co-author, Richard F. Hahn, was quoted on the difficulty of controlling the unpredictable, lengthy bankruptcy process in the event that GM is able to pursue a pre-arranged reorganization with the backing of sufficient workers, creditors, suppliers and dealers.
 
“The more constituents there are, the more the risk that a necessary piece doesn’t fall into place after the bankruptcy filing,” said Richard Hahn, co-chair of law firm Debevoise & Plimpton LLP’s bankruptcy group. “What the government thought was a controlled bankruptcy turns out to be less controlled.”
 
For the Bloomberg article, click here.
For information about the Collier Business Workout Guide treatise, click here.
To listen to a Lexis podcast interview with Richard Hahn discussing bankruptcy practice and business workout trends, click here.
For information about Richard F. Hahn, click here.
 
In the April 3 Washington Post article, “GM’s Views Shift on Bankruptcy as a Strategy,” Collier on Bankruptcy author Mark I. Bane was quoted in response to GM CEO Fritz Henderson’s statement that GM’s limited discussions with the auto task force on possible bankruptcy strategies have focused solely on getting GM through the court process as quickly as possible. Mark Bane authors the Collier on Bankruptcy chapters on sections 301 and 721 of the Bankruptcy Code.
 
"If speed is the issue, the company will be under enormous pressure to reach a consensual plan," said Mark Bane, head of the corporate restructuring group at Ropes & Gray in New York.
 
For the Washington post article, click here.
For information about the Collier on Bankruptcy treatise, click here.
For information about Mark I. Bane, click here.

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