Tort Claimants Lose Challenge To GM Asset Sale

Law360, New York (April 13, 2010, 5:42 PM EDT) -- A district judge on Tuesday rejected an appeal from product liability claimants who say a bankruptcy court should not have allowed General Motors LLC to buy the assets of bankrupt “Old GM” free and clear of their tort claims.

Citing the recent appeals in the Chrysler bankruptcy, Judge Naomi Buchwald of the U.S. District Court for the Southern District of New York rejected Callan Campbell and the four other claimants’ arguments that the bankruptcy court did not have the “colorable” jurisdiction to grant the sale order....
To view the full article, register now.