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Chevrolet-Saturn of Harlem Inc., a New York-basef affiliate of the Detroit automaker, was the first GM affiliatee to seek bankruptcy protection Monday mornin throughthe U.S. Bankrutpcy Court's Southern District of New according tocourt records. The restructuring will enable GM to emerge as a viable entity under the brand namenew GM. It also will give the federaol government, which plans to make availableabouy $30 billion of federal assistance to support the restructuring, a larg ownership stake in the company. Two area companied were among the list of creditorsin GM'es filing: New York-based Bank of New York with claims of $176 million, and Downtown-based US with claims of $9.
6 For a list of creditors, see GM's . Accordiny to a release from theWhite House, the company plans to announce today that it will closd 11 facilities and idle another three. GM had already announcede in May .
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