Bankruptcy next week for GM, another $30 billion in federal loans coming

The figure is a starting point in negotiations between the government and the company, the source said, and could change as could the timing of a filing. A cash injection that large would boost the U.S. investment in GM to nearly $45 billion.

The government previously indicated that it planned to take at least 50 percent of the restructured company, and likely would take the right to name members to its board of directors, as it has at Chrysler, where the government will control four of nine seats.

The United Auto Workers retiree health fund is set to own as much as 39 percent of the restructured GM, in exchange for giving up its claim to $10 billion that the company owes it. Yesterday, the union announced that it reached an agreement with GM that will reduce the company’s labor costs.