Final word on GM bonds? Depends on court action
— -- Q: When will small-time investors in General Motors bonds find out what will happen to their holdings?
A: It took some time for the large holders of General Motors bonds to finally get on board with the automaker's filing for bankruptcy protection. But now that it's happened, what's next?
At this point, the end game for GM bond holders remains a work in process. You can get the latest information on USA TODAY.com's General Motors index page.. The latest story on the bankruptcy says bondholders can expect to get just 10 cents on the dollar from their investment in GM. They are also expected to get warrants to collectively buy 15% of GM.
The company also provides updates for investors and bond holders. Currently, the company is just saying matters are subject to court action. You'll want to keep checking www.gm.com/restructuring for the latest developments.
Matt Krantz is a financial markets reporter at USA TODAY and author of Investing Online for Dummies. He answers a different reader question every weekday in his Ask Matt column at money.usatoday.com. To submit a question, e-mail Matt at mkrantz@usatoday.com. Click here to see previous Ask Matt columns. Follow Matt on Twitter at: twitter.com/mattkrantz
