Read the touching story of death and rebirth – so relevant this time of the year.
The General Motors corporation “dies” when filing for bankruptcy in 2009 to protect itself financially and legally. Its claimed subsequent “rebirth” as an entirely “new” corporate being shields it from liability in connection to selling faulty ignition switches by the “old” GM corporation that caused at least 13 deaths and the recall of 2.6 million vehicles.
“New GM’s recall covenant does not create a basis for the plaintiffs to sue new GM for economic damages relating to a vehicle or part sold by old GM,” a spokesperson for the resurrected corporation stated.
It’s a Miracle!