Getting your player ready...
DENVER—Colorado is joining other states in objecting to GM’s bid to modify its dealership agreements as it works to emerge from bankruptcy proceedings.
State Attorney General John Suthers filed an objection yesterday in U.S. Bankruptcy Court in New York.
Suthers says GM shouldn’t force its dealerships in Colorado to unfairly bear the burden for its past mismanagement.
GM says the company is subject to the jurisdiction of the bankruptcy court and will follow its orders on dealership agreements.
GM aims to emerge from Chapter 11 bankruptcy proceedings as a new company in which the U.S. government would hold a controlling stake.
