Judge Blesses Old GM Liquidation Plan

Law360, New York (March 3, 2011, 6:25 PM EST) -- A New York bankruptcy judge said Thursday that he'll approve the liquidation plan for Motors Liquidation Co., the bankrupt remnants of General Motors Corp., even as creditors fretted that possible fluctuations of GM's stock price would make future distributions unfair.

"This plan will be confirmed," Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York told attorneys packed into the crowded hearing, saying that only minor wording and other issues remained to be resolved.

The plan is "beneficial to the...
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