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 Precept General Motors Precept The General Motors Precept was a 2000 low emission vehicle concept car aimed at meeting the fuel economy goal of the Partnership for a New Generation of Vehicles between the US Government and GM, Ford, and Chrysler. GM was able to meet the fuel economy goal with the Precept, creating versions using Lithium and NiMH batteries with diesel, fuel cell and other hybrid version of the car. GM ended the project in 2000, claiming no one would be interested in buying a high fuel economy vehicle. The near-term PNGV program, introduced during the Clinton Administration, was terminated