Bankruptcy not certain in GM restructuring-source

WASHINGTON Fri May 22, 2009 9:23am EDT

WASHINGTON May 22 (Reuters) - A bankruptcy filing is not certain in the General Motors restructuring case and reports that the Obama administration will steer the automaker into bankruptcy as early as next week are premature, a source familiar with the situation said on Friday.

The source said the deadline for GM's restructuring is May 31 and the process will go forward until then. The Chrysler case, where negotiations continued until the deadline, are a good comparison, the source said.

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