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old gm

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    Report: Lawsuit could unravel New GM
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    A lawsuit that pits hedge funds against creditors is going to trial today, and the outcome could threaten to unravel "New General Motors." In the lawsuit, a trust for Motors Liquidation Co., better known as "Old GM," alleges that certain hedge funds took advantage of a last-minute opportunity ...

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    Report: "Old GM" quietly dead and buried
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    After 103 years of stratospheric heights and immeasurable lows, General Motors Corp. has died. Motors Liquidation Co., or "Old GM," as it became known during the 2009 bankruptcy reorganization, was quietly dissolved on Thursday, Dec. 15, taking the company's bad debts and liabilities along with ...

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    Report: Trust says Old GM shorted property cleanup funds by $13.5M
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    A special trust called RACER was created last year to clean up 89 contaminated sites left behind by the old General Motors in 14 states. According to a report in the Detroit Free Press, GM was meant to provide $625.2 million (an earlier report in the Detroit News indicated $773 million) to pay for ...

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    Report: 2007-2008 Chevrolet Impala owners suing Old GM over suspension woes
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    Owners of 2007-2008 Chevrolet Impala models are once again suing Old General Motors for defects in their vehicles' suspensions. The Detroit News reports that three Impala owners have filed suit in U.S. bankruptcy court claiming that the sale of the company's assets was in bad faith and fraudulent ...

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    Report: Old GM coughs up $2.8M to 12 states for mercury claims
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    Parts containing mercury were used for items like anti-lock brakes sensors and hood light switches until 2004. The following year, an umbrella organization called End of Life Vehicle Solutions (ELVS) began retrieving the mercury switches from junked cars, its activities paid for by contributions ...

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    Report: Judge approves plan to clean up "Old GM" sites
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    General Motors has been given the go-ahead to begin selling off the remaining old GM assets as part of the automaker's restructuring plan. According to The Detroit News, a federal bankruptcy judge approved the plan after a day-long hearing. Judge Robert E. Gerber is expected to issue a written ...

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    General Motors closes historic Willow Run plant
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    General Motors' enormous Willow Run plant built B24 Liberators that helped win World War II, but after 68 years, the historic facility has hit the end of its run. Willow Run built its last automatic transmission on December 15th. The site was originally set up by Henry Ford on a piece of his ...

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    Toyota suing Old GM over shutdown of NUMMI plant?
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    Toyota is still upset about how its joint NUMMI venture with General Motors was handled, and according to Automotive News, the Japanese automaker has now filed a lawsuit to the tune of $73 million. The suit is against Motors Liquidation Co., the company created to pick through the discarded ashes ...

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    What happens at an 'Old GM' auction? Popular Mechanics investigates...
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    General Motors is in the process of auctioning off what it can from the shell of its old company, giving plenty of other businesses and individuals a first-hand glimpse inside The General's old manufacturing plants. Popular Mechanics stopped by an auction at the old Pontiac Assembly East facility ...

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    'Old GM' to reportedly set aside $773M for environmental cleanup plan
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    The U.S. Government and old General Motors have reached an agreement that may make some of the company's former properties more appetizing to buyers. The estate of the bankrupt GM has agreed to set up a $773 million trust dedicated to cleaning up 89 of the company's former properties. Around ...

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    REPORT: Federal bankruptcy court expected to rule on "New GM"
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    According to Reuters, General Motors is on its way into bankruptcy court today in an effort to win approval and access to additional federal funding under its asset-split plan. The automaker filed for Chapter 11 protection just 30 days ago, but it will now go before Judge Robert Gerber to sell ...

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    New GM will take on future product liability claims, but not the current ones, against Old GM
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    A consumer group representing people who currently have product liability claims against GM and Chrysler looks like it won't be getting much, if any, restitution. When GM went into bankruptcy, it still planned to deny any liability claims -- ones that came up today, for instance -- when the new GM ...

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