USA: Daewoo Motor America confirms bankruptcy reorganisation plan in court – report
Daewoo Motor America, the former United States sales arm of Korea's Daewoo Motor Co. Ltd., said on Thursday it had confirmed its bankruptcy reorganisation plan with a federal bankruptcy judge, according to Reuters.
Daewoo Motor America, the former United States sales arm of Korea’s Daewoo Motor Co. Ltd., said on Thursday it had confirmed its bankruptcy reorganisation plan with a federal bankruptcy judge, according to Reuters.
Daewoo Motor America supplies parts and covers warranties for Daewoo vehicles in the United States but was forced into bankruptcy after General Motors and other companies bought some of Daewoo’s assets, but excluded the US sales arm, the report noted.
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