General Motors filed for Chapter 11 bankruptcy protection on June 1, 2009, after decades of declining market share, high labor and pension costs, and the 2008 financial crisis pushed the company toward collapse. The U.S. and Canadian governments provided billions of dollars in bailout financing, and GM emerged from bankruptcy just 40 days later as a leaner company, with the U.S. Treasury holding a majority equity stake that was fully sold off by 2013.
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The General Motors 2009 Chapter 11 filing, the largest industrial bankruptcy in United States history at the time, is a finance-practice case study in government-backed restructuring and debtor-in-possession financing.
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