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Jungermann Quoted in German

April 15, 2009

Dr. Sebastian Jungermann (Partner, Litigation, Frankfurt Office) was quoted in the article "Car Manufacturer is Preparing Itself for a GM Insolvency — The Life Boat for Opel is Ready" on the German prime news portal, dated April 15. The German article deals with GM and a possible plan for a "surgical" prepackaged Chapter 11 filing with a "good" and a "bad" part, with its German affiliate Opel and Opel's IP, which has been transferred to its parent GM, as well as a €300 million intercompany loan from Opel to its U.S. parent GM. Along with some Opel managers, SEBASTIAN was quoted as stating that such a Chapter 11 filing in the U.S. would not necessarily hurt GM's German affiliate Opel, which certainly is a pearl in the GM portfolio. And in theory, a reorganization with such a "surgical" prepackaged filing can be a very fast and efficient way out of bankruptcy.