May 3, 2018 / 8:37 PM / 7 months ago

GM trust, with new counsel, revisits deal in long-running bankruptcy case

A trust for General Motors holding many of the carmaker’s liabilities from before its 2009 bankruptcy has revived a deal with plaintiffs suing over faulty ignition switches that might require the company to pay $1 billion in shares to resolve millions of claims.

In a filing on Wednesday night, the trust asked U.S. Bankruptcy Judge Martin Glenn in Manhattan to set a hearing to approve a settlement agreement similar to one that the trust itself had scrapped under its previous counsel last year.

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