The majority of the money owing, $121 million, is to Publicis' Starcom MediaVest agency for unpaid media bills. Interpublic Group is owed $16 million, Publicis Groupe $25 million and McCann Erickson $4.6 million.
Despite owing money to a long list of creditors and filing for bankruptcy with $172 billion of debts, GM has since launched a new US ad explaining that filing for bankruptcy will result in a stronger GM.
In Europe, the situation is less dire for GM's creditors as the German government has arranged a bail-out of its European operations financed by the Canadian company Magna International and Sberbank, a state-owned Russian bank.
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