Filing: IPG restructures line of credit in case GM goes bankrupt

05/20/2009 | Adweek

Interpublic Group is trying to minimize the impact of a potential General Motors bankruptcy by restructuring its $335 million three-year line of credit, according to a filing with the Securities and Exchange Commission. The holding company, which is GM's biggest marketing services partner, reportedly has not included in many of its agreements with the automaker so-called "sequential liability clauses" that are used to shield shops from being held accountable for their clients' financial obligations.

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