U.S. Bankruptcy Court Approves Sale of GM's Assets

DETROIT — GMAC Financial Services has been notified that the U.S. Bankruptcy Court has approved the sale of assets of General Motors Corporation to an entity sponsored by the U.S. Treasury.

In conjunction with the closing of the sale, the contracts GM has with GMAC will be transferred to the new GM entity. GMAC is pleased to conduct its business operations with the new GM entity and to be part of the solution to stabilize and strengthen the U.S. auto industry.