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 was among the world's largest automakers by vehicle unit sales. General Motors acts in most countries outside the U.S. via wholly owned subsidiaries, but operates in China through 10 joint ventures. GM's OnStar subsidiary provides vehicle safety, security and information services. In 2009, General Motors shed several brands, closing Saturn, Pontiac, and Hummer, and emerged from a government-backed Chapter 11 reorganization. In 2010, the reorganized GM made an initial public offering that was one of the world's top five largest IPOs to date, and returned to profitability later that year. General Motors Company was formed on September 16, 1908, in