With all the talk about the "new General Motors," the old version of that corporation is still in bankruptcy.
Friday morning, CEO Fritz Henderson referred to that entity as "Liquidation Motors." It's comprised of the various now-closed factories and other assets GM no longer wants or can afford to keep. They could eventually be sold-off through the Chapter-11 process to pay off some of the "old GM's" debts to creditors.
Meanwhile, one expert thinks despite the speed of the bankruptcy process, no big surprises are expected. Bankruptcy attorney Melissa Macejko says, "I believe General Motors and the government proceeded extremely cautiously."
At some point, executives with the "new GM" say they will have to repay the tens of billions invested in it by taxpayers and other creditors. The company's president said re-payment will depend on just how quickly the automaker gets back on its feet.
