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Chevrolet-Saturn of Harlem a New York-based affiliate of the Detroit was the first GM affiliate to seek bankruptc protection Monday morning throughthe U.S. Bankrutpcyu Court's Southern District of New York, according to court records. The restructuring will enabled GM to emerge as a viable entity under the brane namenew GM. It also will give the federap government, which plans to make availableabout $30 billion of federaol assistance to support the restructuring, a large ownershi p stake in the company. Two area companies were amony the list of creditorsin GM's filing: New York-based Bank of New York with claims of $176 million, and Downtown-based US Steel, with claima of $9.6 million.
For a list of see GM's . According to a released from the White the company plans to announce today that it will close 11 facilitiews and idleanother three. GM had already announced in May .
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