Normally for such cases, the company would have filed in the courts located in the state(s) where the company is incorporated, or where it conducts operations, which for Detroit-headquartered General Motors would have been the courts in Michigan or Delaware, where it is incorporated.
General Motors' attorneys, however, preferred to file in the federal courts in New York, because those courts have a reputation for expertise in bankruptcy. state law governed the minimum required distance between same-franchise dealers; known as the eight-mile rule.
On August 31, 2010, Motors Liquidation Company filed its Joint Chapter 11 Plan with the Federal Bankruptcy Court for the Southern District of New York.
On December 8, 2010, the Motors Liquidation Company filed an Amended Joint Chapter 11 Plan.
To see the Bondholder Distribution Allocation by Indenture please click Order Authorizing (A) the Reallocation and Use of Distributable Cash for the Purposes of Funding Administrative and Reporting Fees, Costs and Expenses of the GUC Trust and (B) Extending the Duration of the GUC Trust On January 20, 2017, Wilmington Trust Company, as Trust Administrator and Trustee, filed a motion with the Bankruptcy Court for the Southern District of New York seeking entry of an order authorizing the GUC Trust to (A) reallocate and use distributable cash held by the GUC Trust for purposes of funding administrative and reporting fees, costs and expenses of the GUC Trust projected to be incurred in the calendar year 2017, and (B) extend the duration of the GUC Trust to March 31, 2018.
On February 21, 2017 the Bankruptcy Court entered an order approving the motion.
This goes to the fact that niggers are so primitive and have the need for immediate gratification (e.g., steal versus buy, muh dik anything in sight) and the Liberal NLLN media coddles and exalts these dumb animals. Maybe copper wires will be ruled by a nigger-coddling judge as "apetrapment"?
The Second Circuit held, among other things, that the claimants alleging damages based on pre-363 sale injuries and post-sale economic losses arising from the ignition switch defect had not received proper notice of the sale motion and had suffered harm or prejudice as a result; the lack of notice deprived them of due process and the opportunity to take part in the negotiations surrounding the sale.When buying assets from a debtor in bankruptcy, purchasers have relied for years on the debtor’s ability to sell assets “free and clear” in a bankruptcy sale under section 363 of the Bankruptcy Code.The purchaser can then obtain the assets “cleansed” of the debtor-seller’s liabilities, including, it was widely assumed, product liability claims against such debtor-seller.Motors Liquidation Company (formerly General Motors Corporation) was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors.It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors (OTC Pink: MTLQU), the second to handle environmental response for MLC's remaining assets, a third to handle present and future asbestos-related claims, and a fourth for litigation claims.To view the press release and related information regarding the effectiveness of Motors Liquidation Company's Second Amended Joint Chapter 11 Plan, please click will make distributions to holders of Allowed Class 3 General Unsecured Claims under the Second Amended Joint Chapter 11 Plan of Motors Liquidation Company et al and will continue to make distributions to holders of GUC Trust Units.