GM, Nova Scotia Bondholders' $1.5B Deal OK'd, Fees Denied

Law360, New York (October 21, 2013, 4:18 PM EDT) -- A New York bankruptcy judge Monday approved a settlement that provides holders of bonds issued in Nova Scotia a combined $1.55 billion allowed claim against General Motors’ estate, but denied a related bid for $1.5 million in attorneys’ fees.

U.S. Bankruptcy Judge Robert E. Gerber signed off on the deal, which came more than a year after a 16-day trial was held over the notes that were issued in 2003 to a Canadian unit of what is now known as Old GM and a related settlement...
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