GM Trust, Lenders Wrap Testimony Phase In $1.5B Asset Row

Law360, New York (May 5, 2017, 7:29 PM EDT) -- A General Motors trust seeking to recover transfers related to a $1.5 billion term loan wrapped up testimony Friday, with no indication of how the judge may rule, in a bellwether bankruptcy court trial to determine the nature and value of the lenders' security interests in GM plant assets.

With expert testimony finished, U.S. Bankruptcy Judge Martin Glenn told Motors Liquidation Company Avoidance Action Trust, JPMorgan Chase Bank NA and dozens of other former GM lenders that he has reached no conclusions on whether certain machinery...
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