GM Reorganization ‘Blatantly Unfair,’ Bondholder Says
“If we just look at the offer, we have the Treasury and the UAW forgiving $20 billion of debt and getting 89 percent of ownership, and the bondholders are forgiving $27 billion and getting 10 percent ownership,” Modica, a bondholder, told Bloomberg Television. “If anyone thinks that’s fair, they’re not a GM bondholder.”
Click here for more