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Business Briefing / Autos

Quick appeal of GM sale denied

July 09, 2009|TIMES WIRE REPORTS

The sale of most of General Motors Corp.'s assets is moving closer to completion, after a bankruptcy judge denied motions by groups with asbestos and injury-related claims seeking to halt the sale and appeal directly to the U.S. 2nd Circuit Court of Appeals.

The sale remains scheduled to close by Friday.

U.S. Judge Robert Gerber said he denied the request for a stay of the sale because he saw no "substantial possibility" that the groups would prevail at the 2nd Circuit.

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