October 17, 2017
The U.S. government on Monday backed efforts to appeal a bankruptcy court's valuations of General Motors' assets in a clawback case over a $1.5 billion GM term loan, noting its interest in maximizing recoveries for the federally supported estate.
October 11, 2017
A General Motors creditors' trust on Tuesday asked to appeal a bankruptcy judge's ruling in a bellwether case on the nature and value of security interests in GM plant assets related to a $1.5 billion term loan, saying that the findings overlook the federal government's role as savior to the manufacturer in 2009.
October 03, 2017
General Motors Co. argued Tuesday it should get to participate in an upcoming trial over whether a vehicle defect settlement with car purchasers and accident victims that was never signed by a GM bankruptcy trust is enforceable, as the deal could require the manufacturer to hand over $1 billion in company equity.
September 26, 2017
A General Motors trust and hundreds of lenders were handed a rubric Tuesday in the form of a 205-page bankruptcy court opinion on how to settle a dispute over the nature and value of security interests in GM plants, related to a $1.5 billion term loan.
September 20, 2017
A New York bankruptcy judge on Tuesday allowed a woman allegedly burned by a defectively designed gas tank to move forward with her second attempt to hold General Motors LLC liable.
September 13, 2017
A General Motors bankruptcy trust handling creditor claims on Tuesday defended its last-minute decision to back out of a $15 million settlement with car purchasers and accident victims over alleged vehicle defects, saying it made more sense to accept GM's offer to pay defense litigation costs.
September 12, 2017
A group of car owners and claimholders alleging damages from defects in old General Motors' vehicles asked a New York federal court Monday to enforce a $15 million settlement with a bankruptcy trust that was all but signed before the manufacturer allegedly undermined the deal.
September 01, 2017
A New York bankruptcy judge slammed the door Friday on the possibility of punitive damages against General Motors Co. over a woman's catastrophic burn injuries from what she said was a defectively designed gas tank, saying such damages aren't allowed against New GM and directing the parties to take the entire suit back to the drawing board.
August 17, 2017
General Motors Co. has been accused of secretly scheming to "callously" undermine a potential $15 million settlement between its bankruptcy trust and thousands of consumers, including those involved in the ongoing ignition switch multidistrict litigation, according to a letter filed in New York federal bankruptcy court Wednesday.
August 16, 2017
Old GM's unsecured creditors were right to accept a $15 million loan from Uncle Sam to pursue a $1.5 billion avoidance action over a prebankruptcy loan that was left unsecured thanks to a paralegal's mistake, a New York federal court said as it overruled one creditor's objection to the agreement.