GM shares fall below $1 as deadline approaches
Bankruptcy
Shares of General Motors Corp. have fallen below $1 for the first time in 76 years as a Chapter 11 bankruptcy filing for the automaker appears increasingly likely.
GM shares lost more than 22 percent to fall as low as 87 cents in morning trading on Friday. It was the stock's lowest trade since April 18, 1933.
The symbolic decline comes just days away from a government-imposed restructuring deadline of June 1. The company is expected to file for Chapter 11 bankruptcy protection by then, leaving shareholders virtually wiped out.
On Thursday, the automaker offered a new debt-for-equity proposal to its bondholders. The deal would give the government a 72.5 percent stake in the company but made no mention of existing shareholders.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.