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Empresas y finanzas

GM says substantial doubt about ability to continue


    (Reuters) - General Motors Corp said on Thursday that substantial doubt existed about the ability of company to continue as a going concern.

    * Says future dependent on its ability to execute viability plan - SEC filing

    * Says if unable to continue as going concern could be forced to seek relief

    through filing under U.S. bankruptcy code

    * Going concern language in risk factors section of 10-K

    * Says proposed additional loans from U.S. government

    * Hopes to receive loans of up to $7.7 billion or more under section 136 of EISA

    * Says aggregate of about $30 billion in borrowings from U.S. government by

    2011

    * Says if unable to successfully reorganize, DIP financing not available, would

    be forced to liquidate under chapter 7

    * Says in Q4 available liquidity dropped below level necessary to operate

    businesses

    * Says GMAC has a significant amount of indebtedness

    * Says at December 31, 2008 GMAC had about $126 billion in principal amount of

    indebtedness outstanding