General Motors is expected to enter into US bankruptcy proceedings today
after agreeing a deal with creditors.
Holder of unsecured bonds worth $27bn (£16.8bn) will receive a 25% stake in
The US government will provide $30bn in extra financing during the motor
company’s stay in Chapter 11 bankruptcy proceedings, reported
GM owns Vauxhall, which employs 5,500 workers in the UK.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children