Deutsche Bank To Pay $14M In GM Swap Settlement

Law360, New York (January 31, 2011, 8:17 PM EST) -- A bankruptcy judge has approved a settlement under which Deutsche Bank AG will pay General Motors LLC and GM's bankruptcy estate $14 million to resolve a dispute involving roughly $24 million Deutsche Bank owed the debtors on interest rate swaps.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York on Friday approved a stipulation among General Motors LLC, Deutsche Bank, Wilmington Trust Co. and GM bankruptcy estate Motors Liquidation Co.

GM will receive $2.5 million in cash, and Motors...
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