Toyota, Nummi Seek $574M From Old GM Over Closure

Law360, New York (December 1, 2010, 4:44 PM EST) -- Toyota Motor Corp. and its defunct joint venture with General Motors Co., called New United Motor Manufacturing Inc., are seeking to recoup up to $574 million from the U.S. automaker's bankruptcy estate, claiming GM's decision to pull out of the partnership led to its collapse.

In an adversary proceeding filed Nov. 24 in the U.S. Bankruptcy Court for the Southern District of New York, Nummi, a 25-year collaboration between Toyota and GM, claims that Motors Liquidation Co. should pay its share of the hundreds of millions...
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