GM may face $918-million loss due to suit stemming from bankruptcy
But both GM and the hedge funds maintain the lock-up agreement was sealed before the bankruptcy took place, meaning it isn't subject to judge approval. Judge Robert Gerber held several days of trial between August and October and a ruling is expected early this month. Should Gerber rule in favor of the trust, GM will have to pay up on a loan of almost $1 billion owed by GM Canada to a Nova Scotia lender.
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