Old GM Settles Enviro Claims For $11.5M

Law360, New York (April 1, 2011, 7:26 PM EDT) -- Motors Liquidation Corp., the still-bankrupt portion of General Motors Corp., reached an $11.5 million settlement Thursday of claims from the U.S., Indiana, New York and the St. Regis Mohawk Tribe over natural resource damage and costs at five contaminated sites.

The settlement, formalized in a consent decree filed in the U.S. Bankruptcy Court for the Southern District of New York, gives the states and the tribe allowed unsecured claims to pay for the restoration of wildlife, natural habitat and other natural resources at two polluted sites...
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