Friday, December 24, 2010

AG objects to GM bankruptcy - Atlanta Business Chronicle:

http://republica-dominicana.us/?p=33
“While we hope that in the end, GM will emerge strongert and more resilient,” Cordray said in a “we cannot let big-business bankruptcies in federal couryt trample overstate law.” Much like the Chrysler sale, Cordray’s objections involve issuesx over workers’ compensation benefits liabilitg and reconciling the bankruptc y with state law regulating automobile dealerships. GM has notifieed 1,323 dealerships that they will not have theird franchiseagreement renewed, including 79 in Ohio. Individual dealerships haven’tt been publicly disclosed.
Cordray also filed a limited objectionn over the effect it could haveon Ohio’sd Lemon Law and tax refunds owed to the state Taxation

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