General Motors Corp. sped toward a record-short escape from bankruptcy protection yesterday, leaving in its wake questions about how the breakneck speed of the process will affect future restructuring cases.
Southern District Bankruptcy Court Judge Robert Gerber’s order approving the sale of most of the automaker’s assets to a new company, delayed four days to allow time for appeals, became effective at noon, despite a last-minute appeal from plaintiffs in an Arizona product liability case against GM involving a Chevrolet Malibu.
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