The Daily Docket: GM CEO Barra Fires 15 Amid Recall Probe

06/05/14
General Motors Chief Executive Mary Barra spoke Thursday to provide an update on GM’s internal investigation into the ignition switch recall at the General Motors Technical Center.
Bill Pugliano/Getty Images

General Motors Co. Chief Executive Mary Barra fired 15 people and reprimanded five more in the wake of a report that looked over why it took 11 years for the car company to recall cars with defective ignition switches, The Wall Street Journal reports.

New York’s highest court Wednesday weighed whether law firms that hire partners from dissolving firms should be obligated to help repay the dead firm’s creditors by turning over profits earned on work the new partners bring with them. Read the Daily Bankruptcy Review article in Law Blog.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

The city of Stockton, Calif., made a final plea Wednesday to leave Chapter 9 protection after two years in bankruptcy, Bloomberg reports.

Michigan Gov. Rick Snyder wants Detroit retirees and workers to approve the city-s debt-cutting plan, the Detroit News reports.

Bankruptcy filings have kept declining in the first part of this year. Credit Slips gives us more details.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.

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