US Treasury Funds GM Warranty Program In Case Of Liquidation
29 Mai 2009 - 11:27PM
Dow Jones News
With General Motors (GM) reported to be nearing a bankruptcy
filing, the U.S. Treasury Department has funded a
warranty-guarantee program that would go into effect should the
struggling auto maker go into liquidation.
The Treasury on Wednesday provided $360.6 million for the effort
through which the U.S. government would guarantee warrantees on new
GM vehicles, a report released Friday shows.
Treasury earlier created a separate but similar fund for
Chrysler, which already has filed for bankruptcy.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629;
meena.thiruvengadam@dowjones.com