The U.S. Bankruptcy Court for the Southern District of New York, in an effort to facilitate the flow of information and dispel rumors surrounding GM's recent Chapter 11 bankruptcy filing, has posted two new links from its General Motors page. The first instructs "[c]ustomers, suppliers, dealers, retirees, investors and other GM constituents with specific questions" to review the Frequently Asked Questions (FAQs) posted at http://www.gm.com/restructuring/.  The "restructuring" page announces:   "GM is open for business - all warranty, service, customer support programs continue without interruption; all product and advanced-technology launches on track. ... Recent ground-breaking agreements form basis for a leaner, quicker, more customer-focused, more cost-competitive company . ... New GM to be built from only the strongest parts of GM’s business – award-winning vehicles, advanced green technologies, ability to generate sustained bottom-line results.... New GM expected to launch as an independent company approximately 60 to 90 days after June 1, 2009." The "restructuring" page also provides a link to a letter from GM Chief Executive Fritz Henderson.  The second new link, described by the Court as providing "[c]laims information and court documents .... from the claims agent," directs the user to http://www.gmcourtdocs.com.  The "courtdocs" page states:  "On June 1, 2009, General Motors Corporation and three domestic subsidiaries filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York ('Bankruptcy Court').  The company has taken this action in order to accelerate its reinvention and launch a leaner, stronger 'New GM' positioned for a profitable, self-sustaining, and competitive future. GM will sell substantially all of its assets to New GM under section 363 of the United States Bankruptcy Code (the '363 Transaction'), subject to Bankruptcy Court approval.  ...  This site contains information about GM's chapter 11 cases, including a copy of all filed documents. Please note that the deadline for filing claims, known as the 'Bar Date,' has not yet been set by the Bankruptcy Court. Once the Bar Date has been set, this site will also include a claims register and information about the claims process."

     The Southern District of New York Bankruptcy Court deserves credit for moving quickly in making this information readily accessible (the GM petition was only filed three days ago).  Obtaining accurate information in a timely manner is vitally important to anyone involved in a bankruptcy, and this is especially important in the case of GM where so many have so much at stake.

-Drew Broaddus