General Motors continued its dash through bankruptcy court today with a hearing that granted the company $33 billion of debtor-in-possession financing in just 15 minutes. The bulk of the money, $30.1 billion comes from the U.S. Treasury, the rest from the Canadian government.
Debate over one potential conflict, the fees the automaker is paying its investment adviser, has been postponed until July 2. G.M.'s next big hearing, for final approval of its asset sale, is scheduled for June 30. If all goes well, the automaker could be out of bankruptcy by mid-July.