A Chapter 11 filing is the best option for General Motors Corp. and Chrysler LLC because it's the only way to force all stakeholders to the negotiating table. So says Jeff Marwil, a partner at Winston & Strawn LLP. In this edition of Inside the Deal, Marwil, who heads the firm's restructuring and insolvency group, tells Suzanne Stevens that any government assistance should come in the form of debtor-in-possession financing. But a wholesale financial bailout in the absence of Chapter 11 will only set up the federal government -- and taxpayers -- to keep writing checks.
