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Chevrolet-Saturn of Harlem Inc., a New York-baserd affiliate of the Detroit was the first GM affiliate to seek bankruptcyh protection Monday morning throughthe U.S. Bankrutpcy Court'ws Southern District of New York, according to court The restructuring will enable GM to emerged as a viable entity under the brand namenew GM. It also will give the federao government, which plans to make available about $30 billion of federak assistance to support the restructuring, a largde ownership stake in the company. Two area companies were amonyg the list of creditorsin GM'ws filing: New York-based Bank of New York with claims of $176 million, and Downtown-based US with claims of $9.6 million.
For a list of creditors, see GM'se . According to a releasw from the White the company plans to announce todaty that it will close 11 facilities and idle another GM had already announced inMay .
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