The auto task force of the Obama administration has been pushing for General Motors to file bankruptcy. This bankruptcy would split the company into two entities, one of which would contain the unprofitable portions of the company while the other retained the more successful portions.

Currently, GM does not want to enter any form of bankruptcy as it might make consumers uneasy. However, this bankruptcy would likely be very beneficial and may soon become necessary whether GM wants it or not.

If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.