Quote:
Originally Posted by DkknightX
Actually, it won't create any wait time whatsoever. My wife and I visited my dealer lastnight and he confirmed this. Before June 1st, GM will assess inventory at all of the dealerships that are left and then shut down factories indefinitely. This does not apply for Year Model 2010 vehicles including the Camaro where there are fewer cars and alot more demand. The bankruptcy theory slowing down the Camaro will not have any affect on the Oshawa plant. This information is accurate and logical. GM will still be on the hook for some debt that bankruptcy will not protect them from, so if a car is in demand, that assembly line keeps moving.
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This isn't how it works.
Now the multi-national angle (Canadian Factory) is still a wild-card, but-
At the moment you have officially filed Bankruptcy- ALL money/accounts/assets get frozen, everything. Then a Judge unfreezes things on an item by item basis. If the Camaro plant was on American soil, I can guarantee that all funds used to run the plant would be frozen. Now they may have this planned out and that may only be for 10 minutes while the Judge authorizes the checks, however I'd be surprised if there isn't at least a few days of closure. Typically the first thing that gets unfrozen is the wage account but only for the amount already owed prior to freezing, and for GM this is likely several accounts with all sorts of documentation and accounting/authentication.
I would bet the accounting attachments for the initial bankruptcy filing are several thousand pages, and even a judge with a Federal Accounting team is going to take some time to get through it, prepackaged or not.