Motors Liquidation posts $23.98 million October operating loss

By Jennifer Lanning Drey

Portland, Ore., Dec. 11 - Motors Liquidation Co. (formerly General Motors Corp.) reported a $23.98 million operating loss for October on $2.04 million in rental income, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures compared to a $24.59 million operating loss for September on $2.04 million in rental income.

The net loss for October was $1.055 billion, compared to a net loss of $37.82 million in September.

Motors Liquidation had $1.057 billion of cash and cash equivalents at Oct. 31, compared with $1.095 billion at the end of September.

GM, a Detroit-based automaker, filed for bankruptcy on June 1 in the U.S. Bankruptcy Court for the Southern District of New York. The new General Motors Corp. emerged from Chapter 11 on July 10, and Motors Liquidation's Chapter 11 case number is 09-50026.

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