{"id":10944,"date":"2009-07-02T00:00:00","date_gmt":"2009-07-02T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"clock-ticking-on-accord-to-sell-good-gm-assets","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2009\/clock-ticking-on-accord-to-sell-good-gm-assets.html","title":{"rendered":"Clock Ticking on Accord to Sell Good GM Assets"},"content":{"rendered":"<p>New York Times Blogs &#8211; In his court testimony on Wednesday in New York, Mr. Wilson &mdash; formerly a senior executive of <strong>Silver Point Capital<\/strong>, a hedge fund specializing in distressed-debt investments &mdash; described some of the negotiation process that shaped G.M.&rsquo;s bankruptcy case. The administration&rsquo;s auto task force had decided upon an asset sale plan by mid-May, as G.M. began a debt-exchange offer with its bondholders as part of a government-supported restructuring plan.<\/p>\n<p>By pursuing an asset sale, G.M. could be assured of greater speed, certainty and the ability to shed unwanted liabilities, Mr. Wilson said.<\/p>\n<p> Because the government was essentially G.M.&rsquo;s lender of last resort, it could effectively dictate what it found acceptable as a turnaround plan, Mr. Wilson testified.<a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=\"><\/a><\/p>\n<p><a href=\"http:\/\/dealbook.blogs.nytimes.com\/2009\/07\/02\/clock-ticking-on-accord-to-sell-good-gm-assets\/\" target=\"_blank\" title=\"Read Complete Article\"><strong>Read Complete Article<\/strong><\/a><\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Times Blogs &#8211; In his court testimony on Wednesday in New York, Mr. Wilson &mdash; formerly a senior executive of Silver Point Capital, a hedge fund specializing in distressed-debt investments &mdash; described some of the negotiation process that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[5887,9014,3549,13743,13745,13741,1182,11148,13740,4305,13746,13744,4291,11183,12389,10710,13742],"class_list":["post-10944","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bankruptcy-case","tag-blogs","tag-bondholders","tag-court-testimony","tag-debt-exchange","tag-debt-investments","tag-distressed-debt","tag-hedge-fund","tag-lender-of-last-resort","tag-liabilities","tag-mr-wilson","tag-negotiation-process","tag-new-york-times","tag-rsquo","tag-silver-point","tag-task-force","tag-turnaround-plan"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10944"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10944\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}