GM agrees to carry can for future faulty products

DETROIT: General Motors Corp has agreed to accept liability for future product defects as one of several concessions offered in a bid to win court approval for a quick sale from bankruptcy.

In addition, GM said it would change the terms of its proposed asset sale to address objections raised by over 20 suppliers and was working to resolve a question over the future of a joint-venture plant with Toyota Motor Corp.

The statements by GM, which came in filings with a New York bankruptcy court, show how the automaker and Obama administration officials have worked to counter some of the more contentious issues raised by the company's bankruptcy filing earlier this month.