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NEW YORK — General Motors, hoping for a quick exit from Chapter 11, today will ask a bankruptcy judge to approve its plan to refashion itself as a leaner automaker owned mostly by the government. The nation’s largest automaker still faces hundreds of objections from bondholders, state officials, unions and individual retirees and shareholders but could enjoy an easier trip through the bankruptcy process thanks to the legal trail blazed weeks ago by rival Chrysler.
Last month, objections from a group of bondholders and others dragged out for three days Chrysler’s hearing on its plan to sell the bulk of itself to a group led by Italy’s Fiat Group.
The Associated Press
