General Motors (GM) recently filed an objection to requests from a consumer victims group and a group of people who have asbestos injury claims because they want an official tort claimant committee as part of GM’s upcoming bankruptcy proceedings.
GM states that the addition of these committees is unnecessary, since they already have a 15-member unsecured creditors committee that includes two tort claimants and one asbestos personal injury claimant. Official committees in bankruptcy cases have their professional fees paid by the bankrupt company’s estate.
GM filed bankruptcy on June 1. A hearing on the proposed sales is schedule for June 30. No other bidder is expected to challenge the offer from the Treasury-funded Vehicle Acquisition Holdings LLC.
Tags: asbestos, general motors
