Business
9:35 am
Thu June 25, 2009

Judge gives final OK to GM bankruptcy financing

NEW YORK – A bankruptcy judge says GM can have access to its full $33.3 billion in bankruptcy financing.

Judge Robert Gerber gave final approval to the financing on Thursday. He had given preliminary approval to GM using $15 billion of the total at a hearing earlier this month.

The billions in financing, which is largely being supplied by the U.S. government, is intended to keep Detroit-based GM going until it can sell its assets to a new company and emerge from Chapter 11.