How did chevrolet get out of bankruptcy in 2009?

On June 1,2009, General Motors filed for bankruptcy in New York,with $82 billions in assets and $ 173 billions in liabilities.New GM exited bankruptcy protection on July 10,2009,in 40 days helped by the USA government equity investment in GM Motors shares.One of the CEOs,proposed that GM split into two very separate entities before filing bankruptcy.Newco with a new and clean balance sheet,taking on GM's best brands and operations,and the Oldco,the leftover GM,with most of the liabilities.All of the operational restructuring to make the new company profitable would also occur before a bankruptcy filing so GM could go through bankruptcy in a matter of days with creditors and other litigants fighting over the corporate skeleton of GM.

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