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GM waits for judge’s ruling on sale plan

By Associated Press
Thursday, July 2, 2009 -
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NEW YORK - An attorney for General Motors urged a bankruptcy judge Thursday to approve the automaker’s sale plan, saying that the only other alternative would be a liquidation of the company’s assets that would have "horrific" consequences for everyone.

Attorney Harvey Miller said the government appears committed to cutting off funding to GM if the sale is not approved by July 10. Some parties objecting to the sale argued in court that the Obama Administration won’t allow GM to fail.

 
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