Seems to me that subsidiary companies in Australia can't declare bankruptcy.
The only reason GM exists in the US is because it could seek Ch 11 protection and restructure. During that restructure the unions just became creditors and had to renegotiate everything. GMH was excluded. I can imagine GM is not happy about subsidising Aussies when their US workers have given up so much.
We need a law with bits of Force Majeure and Ch 11 bankruptcy laws which will allow these companies a Last Chance option to negotiate. They don't have any escape clauses as it stands.
