"stock can not go to 0.00, while foreign subs not in bk."
"The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and SOME of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the Southern District of New York. The United States government-endorsed sale enabled the NGMCO Inc. ("New GM") to purchase the continuing operational assets of the old GM. Normal operations, including employee compensation, warranties, and other customer service were uninterrupted during the bankruptcy proceedings. Operations outside of the United States were not included in the court filing.
The company received $33 billion in debtor-in-possession financing to complete the process. GM filed for Chapter 11 reorganization"