General Motors very likely will file for bankruptcy protection in the United States but the company is "trying to pull out all stops" to avoid doing the same in Canada, the Canadian Auto Workers union said on Friday.
General Motors very likely will file for bankruptcy protection in the United States but the company is “trying to pull out all stops” to avoid doing the same in Canada, the Canadian Auto Workers union said on Friday.
CAW president Ken Lewenza told Reuters, after announcing a tentative labour deal with GM, that, as of Thursday night, it was not 100% certain the company would have to file under Canada’s Companies’ Creditors Arrangement Act (CCAA).
But he said that if GM Canada did go into CCAA, the collective agreement just reached would be protected, the report said.
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