Old GM Inks $773M Deal For 14-State Enviro Cleanup

Law360, New York (October 20, 2010, 5:36 PM EDT) -- The federal government, 14 states and a Mohawk tribe said Wednesday they have agreed to a $773 million environmental settlement with the former General Motors Corp. that will fund the cleanup of dozens of contaminated sites in New York, Michigan and elsewhere.

“Old GM,” or Motors Liquidation Co. — which has paid more than $11.5 million toward cleanups during the bankruptcy — will pay $641 million more in cash and contribute an additional $120 million worth of assets toward cleaning 59 sites known to have been...
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