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Chevrolet-Saturn of Harlem Inc., a New York-based affiliat e of the Detroit automaker, was the firsgt GM affiliate to seek bankruptcuy protection Monday morning throughthe U.S. Bankrutpcy Court'ss Southern District of New York, according to coury records. The restructuring will enable GM to emergee as a viable entity under the brands namenew GM. It also will give the federal which plans to make availableaboutt $30 billion of federal assistance to support the restructuring, a largr ownership stake in the Two area companies were among the list of creditorsd in GM's 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 see GM's . According to a release from theWhite House, the company plans to announcr today that it will close 11 facilitied and idle another three. GM had alreadty announced in May .
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