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One of the first motions filed in court was to void the leases on the seven corporate jets, and corporate aircraft hangar at Detroit Metropolitan Wayne County Airport, which the company said were no longer valuable to the company's business.

A GM spokesman said that the company had found itself unable to escape the lease in 2008 when it had tried to.

Wr2 liquidating corp michigan

In 2001 General Motors formally declared Project 2000 would be implemented as part of a brand-channeling strategy designed to consolidate its network of privately owned individual franchise dealerships and reduce the number of locations from 7,300 to 3,800.

Project 2000 served as the primary mechanism for combining single-point Buick-Pontiac-GMC dealer locations together forming a single corporate brand division (BPG).

Liquidation is the final step in the formal process of dissolving a corporation, regardless of how many shareholders it has.

It specifically relates to how a corporation distributes assets that remain after clearing outstanding debts.

This can mean the corporation will remain responsible for paying annual fees and complying with annual reporting requirements.