According to, U.S. Treasury and some of GM’s bondholders reached a deal today that will permit GM to file for bankruptcy on Monday, June 1, 2009 (Of course, notwithstanding this “deal”, GM would likely have filed by then anyway, but that’s all speculation now).   The deal will provide the bondholders 10% equity of new GM with warrants to purchase up to 15% more.  The union health trust will get 17.5% of the new equity and the US Government will get up to 72.5%.   The details of the deal and proposed DIP financing are set forth in GM’s 8-K that was filed today.