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.
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On June 1, 2009, Motors Liquidation Company (formerly General Motors Corporation) and certain subsidiaries filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. and Remediation And Liability Management Company, Inc., two direct subsidiaries of Motors Liquidation Company, filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code on October 9, 2009.
An order was entered approving the sale of substantially all of Motors Liquidation Company’s assets to a new and independent company under section 363 of the Bankruptcy Code on June 5, 2009. Their chapter 11 cases are being jointly administered with Motors Liquidation Company’s chapter 11 proceedings for procedural purposes only under case number 09-50026 (REG).
You can be assured that your auction or liquidation will be conducted with professional experience, reliability and confidence.
Whether you are selling your business or are buying for your company, you can’t go wrong with Tri-State Auction & Realty, LLC.
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.
A turnaround is the financial recovery of a company that has been performing poorly for an extended time.
To effect a turnaround, a company must acknowledge and identify its problems, consider changes in management, and develop and implement a problem-solving strategy.
Tri-State understands how difficult it is to make the decision to see a lifetime of hard work sell.
The company and employees are focused on making the decision to have an auction as easy a process as possible.
Internally, this can include updates to manufacturing processes, changes in management strategies or significant reductions in certain spending categories.