DOI: 10.5176/2010-4804_2.3.236
Authors: Christopher Bosco and Catherine Plante
Abstract:
The bankruptcy of General Motors was historical, not only because of the size but also because of the political nature of the process. The federal government was influential in the process which provided an outcome unique in the history of bankruptcy. This paper explores the implications of the General Motors bankruptcy on stakeholders especially those who unknowingly were exposed to risk. This paper puts into perspective how detrimental major
bankruptcies can be, and it refutes the notion that only those who take a calculated financial risk are the only ones adversely affected by a bankruptcy.
Keywords: bailout, bankruptcy, General Motors, restructuring
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