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Liquidation is normally done by the secured lenders, like the bank first, and then so on. It is true, liquidation means no GM. I am pretty sure inventory on the lot is still owned by GM, but they are paid an "interest payment" by the dealer as part of the floor plan. I am not convinced that selling off the inventory at really low prices for a quick infusion of cash will work if GM is in Chapter 11 because who would want to purchase a car they may not be able to get warranty service on, not alone getting spare parts on further down the road. GM itself is expressing this concern about Chapter 11. However, GM has retained the services of bankruptcy professionals in an effort to go through the process as a method to "tune up" the company and make it more profitable.
Long Live Camaro! (and GM)
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