On June 1, 2009, General Motors Corp. announced its decision to file a Chapter 11 case for the company and sell substantially all its operating assets to a new corporation sponsored by the United States Treasury. The lawyers involved include partners Robert D. Joffe, Richard Levin, Philip A. Gelston, B. Robbins Kiessling and Sarkis Jebejian.
Mr. Joffe, Mr. Levin and Mr. Gelston advised the independent directors of General Motors in connection with the decision to file a Chapter 11 case. As part of the directors’ monitoring activities, Mr. Gelston has participated actively in the negotiations with the United States Treasury and GM bondholders and other interested parties and also in GM’s planning for restructuring and preparations for a bankruptcy filing. Mr. Kiessling and Mr. Jebejian, with Mr. Gelston, have advised GM concerning its investment in and business relationship with GMAC and Mr. Gelston and Mr. Jebejian have provided advice regarding the negotiations over GM’s European operations.