GM closer to bankruptcy as bondholders smooth way May 31, 2009DealsExpert WASHINGTON (Reuters) – General Motors Corp and the U.S. government finalized plans on Sunday for the battered automaker to reorganize, as a majority of debtholders helped clear the way to a massive bankruptcy filing expected on Monday. Related PostsMajority of GM bondholders agree to deal: sourceMajority of GM bondholders agree to swap: sourceGM bankruptcy looms after bondholders back dealJudge approves sale of GM assetsGM to file mid-August IPO: sources Share this:Like this:Like Loading...