Former GM Objects To $1.4B In Claims

Law360, New York (January 8, 2010, 2:38 PM EST) -- Motors Liquidation Co., the remains of the former General Motors Corp. still in bankruptcy, is crying foul over nearly $1.35 billion in mostly unsecured claims against the company.

MLC and its affiliated debtors submitted four omnibus objections Thursday in the U.S. Bankruptcy Court for the Southern District of New York, seeking to disallow and expunge 360 claims that allegedly are duplicates; carry insufficient documentation; or have been amended and superseded by subsequent, corresponding claims.

The debtors argue that they “have examined the proofs of claim” and...
To view the full article, register now.