If GM were to go through Chapter 11 restructuring, you wouldn't see factories retooled and revamped for a more productive use – like the production of wind turbines, fuel-efficient cars, public transportation, etc.
You'd see them follow Delphi's playbook.
Delphi used to be part of GM, and is now their main parts supplier. Delphi has not 'reemerged' from bankruptcy. But their 'wealth-creating' assets, their manufacturing capacity, has been recycled, at auction, to overseas companies. Perhaps even to companies like GM China:
Flint AC/Delphi East Auction<div>