When a company doesn't have enough money to pay creditors what they're owed, it's considered insolvent. By this definition, GM is insolvent. The American automaker's working capital stands at negative $20b. Cash outflow for the half year through June 30 remains negative, at over seven billion dollars. And it's getting worse, as cash calls arrive on a regular– and irregular– basis. There's no more credit to tap, and GM has few assets of meaningful value left to sell. Oh yeah, GM's gonna file for bankruptcy. Then what?
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