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A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy . Such clauses are common where the insured property is subject to ...
A mortgagee clause protects your lender if the property you borrowed to buy is damaged or destroyed, ensuring it gets reimbursed for its share of the loss. The mortgagee clause’s coverage allows ...
On the March 30, 2009, deadline President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to ...
General Motors bankruptcy. Only days after approaching the U.S. Government to seek further funding, General Motors published its losses for the final quarter of 2008 to be at $9.6 billion (£6.7 billion). This brought its overall 2008 losses to $30.9 billion. In 2007, General Motors made a loss of $38.7 billion.
Why did General Motors (GM) fail? The first reason is bad financial policies. As I posted, for too many years GM used cheap cars as razors to sell consumers a monthly package of razor blades -- in ...
General Motors may have emerged from bankruptcy, but the pared down auto maker didn't make money in the last six months of the year. It posted a $4.3 billion loss, it said Wednesday. Still, GM ...
Motors Liquidation Company ( MLC ), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to ...
General Motors headquarters. Photo Credit: General Motors The U.S. Treasury continues to wind down its ownership in the largest U.S. automaker, General Motors . It's sold chunks of its shares off ...