General Motors Chapter 11 reorganization preferred court. Normally for such cases, the company would have filed in the courts located in the state(s) where the company is incorporated, or where it conducts operations, which for Detroit-headquartered General Motors would have been the courts in Michigan or Delaware, where it is incorporated. General Motors' attorneys, however, preferred to file in the federal courts in New York, because those courts have a reputation for expertise in bankruptcy. In a press conference later that day, the GM Chief Executive Officer, Fritz Henderson, stressed that he intended for the bankruptcy process to move quickly. In addition to Mr Henderson's
General Motors GM Korea, followed by a market exit. GM is currently negotiating a $2.8 billion investment plan for its Korean operations from the South Korean government, to be dispersed over the next decade. Furthermore, the company approached the Korea Development Bank to participate in a $2.7 billion debt swap issued by its Korean subsidiary. According to the South Korean unit of General Motors, its domestic sales for March dropped by 58 percent, which is more than half compared to the past year. In February 2018, General Motors had said to shut down one factory and then decide what lies ahead for