GM could face $918 mln hit from bankruptcy-related lawsuit

Newswire

By Tom Hals Jan 3 (Reuters) - A U.S. bankruptcy judge could soon rule on whether the 2009 government-led restructuring of General Motors Co improperly favored hedge funds, and an adverse ruling could cost the automaker nearly $1 billion. Judge Robert Gerber must decide whether a "lock-up agreement" in the restructuring sent $367 million to a group of hedge fund noteholders at the expense of other creditors. A trust representing unsecured creditors ...

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