Hearing adjourned for an early lunch- stay tuned for our article on Reuters.com. We'll be back at 12:30pm for more from the GM hearing.
Live: GM bankruptcy court hearing
http://r.reuters.com/xaf77cJudge takes another recess five minutes after coming back from 2hr lunch- but on the bright side, he will likely come back with a decision.
Judge in GM case says non-union retirees don't get official committee among creditors.
Hearing adjourned- stay tuned on Tuesday for the BIG hearing- the sale hearing. Thanks for following Reuters' DealZone.
Good morning from extremely crowded
#GM sale hearing in bankruptcy court in Manhattan
At least 50 protesters from a union group gathered outside
#GM hearing
Even both overflow rooms at
#GM bankruptcy sale hearing are packed.
Judge Gerber has arrived.
#GM sale hearing beginning
Judge Gerber just tells everyone in crowded
#GM courtroom they have permission to "take off their suits" quickly corrects to "suit coats"
Apparently the
#GM courtroom is so hot it is messing up the communications system. Court is in recess while they wait for technical help
#GM sale hearing is delayed, pending technical difficulties, we'll see what happens.
They appear to be switching courtrooms at the moment in
#GM sale hearing
Due to technical difficulties
#GM sale hearing is moving from Judge Gerber's courtroom to Judge Gropper's courtroom -- but should begin soon
Judge Gerber has arrived, GM sale hearing beginning in new courtroom
#GM #bankruptcyThe court has added a third overflow room for
#GM sale hearing -- this takes standing room only to a new level
Judge Gerber is pleading for people to only ask questions of witnesses that have not already been asked and work together to conserve time
This hearing seems like it will go into tomorrow. Gerber just said the deadline for depositions was noon tomorrow
#GM lawyer Harvey Miller now talking
Miller questioned standing of "family and dissident" bondholders saying they didn't pay near par for their bonds, Judge overrules objection
GM CEO Fritz Henderson getting sworn in at
#GM sale hearing
GM CEO Henderson says GM's ex-CEO Rick Wagoner resigned at the suggestion of U.S. auto task force's Rattner
GM CEO Henderson says GM had thought about filing prepackaged bankruptcy on day 1 of bankruptcy as well as 363 sale
GM CEO Henderson says the business is doing better helped by anticipation of quick bankruptcy sale
#GMBankruptcy judge is giving a quick break for the hearing it seems
Yes a 10 minute recess for the GM hearing - Henderson has been on the stand for a while
GM CEO Henderson says the business is doing better helped by anticipation of quick bankruptcy sale
#GMHenderson: "my assumption is the U.S. treasury is the purchaser"
GM hearing is back on - the creditor committee lawyer is questioning Henderson now
Henderson saying that he at one point said he believed retiree benefits for non-UAW union workers were "politically sensitive"
Judge Gerber is keeping a tight hand on his GM bankruptcy courtroom today and is trying to keep things moving along. When some lawyers b ...
When some lawyers began to debate he broke in with “Folks we’re not the English Parliament here. We don’t talk to each other.”
GM hearing taking a 1 hour lunch break
Back up and running at GM hearing. Henderson is still on the stand.
Judge Gerber having tough time w/ pro se litigant in
#GM. Gerber: I can no longer permit you to have your opponents find things for you
Gerber wants to know why bondholder representing himself is putting GM's Henderson through "a memory test"
GM's Henderson says during huring that GM had $12 billion in cash last week but lots of outflows this week as credit lines come due
GM hearing takes a 5 minute recess -GM attorney Harvey Miller up next with questioning
Miller is doing redirect on
#GM's Fritz Henderson
Miller asks about asbestos "orphan share" but it sounds a bit like "often share" - Judge Gerber jokes Miller still has his NY accent
#GMHenderson says he does not expect
#GM to make money in 2009
Michael Richman repping dissident
#GM bondholders asks questions of Henderson on recross
Correx: GM's Henderson said he didn't expect GM to make money in June 2009
Richman argues GM doing better because of government support of warranties -- but claims support was there prior to bankruptcy
Richman asks what would be the harm to UAW contract if there were a 60-90 day traditional reorganization plan. Fritz: I can't speak for UAW