Judge Approves Old GM's $36M EPA Deal, Liquidation

Law360, New York (March 30, 2011, 4:02 PM EDT) -- A New York bankruptcy judge approved a $36 million environmental settlement between General Motors Corp.'s bankrupt remains and the U.S. Environmental Protection Agency late Tuesday, enabling Motors Liquidation Co. to free up $1.75 billion that had been reserved for U.S. claims.

Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York also formally approved the liquidation plan for Motors Liquidation, for which he voiced support earlier in March.

The deal with the EPA follows on the heels of an earlier $773...
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