GM owes $9.6M to ArcelorMittal
US auto giant, bankrupt General Motors has to pay $9.55 million (almost Rs 45 crore) in trade debt to the steel maker ArcelorMittal.
The US auto making giant, which filed for bankruptcy protection under Chapter 11 on Monday, owes as much as a staggering $172.81 billion in total debts to its 50 largest credit providers including the world’s largest steel maker ArcelorMittal.
Filing the bankruptcy in court in the Southern District of New York, GM announced that the company faces a “trade debt” of $9.55 million that it has to pay to the NRI-billionaire Lakshmi Mittal-led ArcelorMittal. According to the filing, GM has assets worth $82.29 billion.
Amongst the other 50 largest credit providers named in the filing, GM owes the maximum to Wilmington Trust Company, another staggering $22.76 billion, followed by International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW), which are expecting a huge $20.56 billion.
