Motors Liquidation GUC Trust gets OK to use distributable cash in 2018

By Caroline Salls

Pittsburgh, March 8 – Motors Liquidation Co. GUC Trust obtained approval from the U.S. Bankruptcy Court for the Southern District of New York for the reallocation and use of distributable cash held by the trust to fund expected administration and reporting fees, costs and expenses, according to an 8-K filed Thursday with the Securities and Exchange Commission.

Specifically, the trust received approval to reallocate and use $9.05 million of distributable cash to satisfy administrative costs for 2018 and to reallocate and use $4.55 million to satisfy reporting costs.

The order also extends the duration of the trust for an additional 12 months or through March 31, 2019.

Motors Liquidation, formerly General Motors, is a Detroit-based automaker that filed for bankruptcy on June 1, 2009. The new General Motors Corp. emerged from Chapter 11 on July 10, 2009. Motors Liquidation’s Chapter 11 case number is 09-50026.

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