Monday, March 21, 2011

AG objects to GM bankruptcy - Minneapolis / St. Paul Business Journal:

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“While we hope that in the end, GM will emergw stronger and more resilient,” Cordra y said in a “we cannot let big-business bankruptcieds in federal court trample overstate law.” Much like the Chrysler Cordray’s objections involve issues over workers’ compensation benefits liability and reconciling the bankruptcy with state law regulatingf automobile dealerships. GM has notified 1,323 dealerships that they will not have theirt franchiseagreement renewed, including 79 in Ohio. Individual dealershipd haven’t been publicly disclosed.
Cordray also filed a limitefd objection over the effect it could haveon Ohio’ws Lemon Law and tax refunds owed to the state Taxationb Department.

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