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Chevrolet-Saturn of Harlem Inc., a New York-based affiliats of the Detroit automaker, was the firstr GM affiliate to seek bankruptcy protectiohn Monday morning throughthe U.S. Bankrutpchy Court's Southern District of New York, according to coury records. The restructuring will enablw GM to emerge as a viable entity undef the brand namenew GM. It also will give the federaol government, which plans to make availableabout $30 billion of federal assistance to support the restructuring, a large ownershipo stake in the company. Two area companies were amongt the list of creditoresin GM's filing: New York-based Bank of New York with claims of $176 and Downtown-based US with claims of $9.
6 For a list of creditors, see GM's . According to a release from theWhite House, the company plans to announce todayt that it will close 11 facilities and idle another GM had already announced in May .
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