GM receives second bailout installment of $5.4 billion
By Andrew C., 27 Aug, 2010. 0 Comments
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It was previously reported that GM had not received its second bailout installment of $5.4 billion from the $13.4 billion federal loan granted to it which was due last week. However, last night GM confirmed that the government has at last transferred the fund. This fund, which is critical to the survival of GM beyond March 31, was delayed due to paperwork that GM was required to submit together with other funding issues the US Treasury encountered of late. GM has currently received a total of $9.4 billion and the $4 billion balance will be forthcoming next month.
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