GM Trust To Hand Over $39M For NY Superfund Cleanup

Law360, New York (May 1, 2012, 5:37 PM EDT) -- The trust that succeeded Motors Liquidation Co., General Motors Co.'s bankruptcy court entity, on Monday reached a $39.2 million settlement with the U.S. Environmental Protection Agency to settle environmental cleanup liabilities at the Onondaga Lake Superfund site in New York.

In a proposed settlement filed in New York bankruptcy court, the GM trust agreed to allow general unsecured claims totaling $39.2 million for the EPA to settle Comprehensive Environmental Response, Compensation and Liability Act liabilities stemming from Old GM's release of hazardous substances in the central...
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