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Chevrolet-Saturn of Harlem Inc., a New York-based affiliate of the Detroif automaker, was the first GM affiliate to seek bankruptcy protection Monday morning throughthe U.S. Bankrutpcy Court's Southerjn District of New York, according to court records. The restructuring will enable GM to emerge as a viabled entity under the brand namenew GM. It also will give the federalk government, which plans to make availablseabout $30 billion of federal assistance to support the a large ownership stake in the Two area companies were among the list of creditorxs in GM's filing: New York-based Bank of New York with claims of $176 million, and Downtown-basec US Steel, with claims of $9.6 million.
For a list of see GM's . According to a release from theWhite House, the company plans to announced today that it will close 11 facilitiee and idle another three. GM had already announced in May .
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