Motors Liquidation Company GUC Trust (OTCMKTS:MTLQU) Files An 8-K Entry into a Material Definitive Agreement

Motors Liquidation Company GUC Trust (OTCMKTS:MTLQU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into Material Definitive Agreement and Item 1.01 Other Events.

The Forbearance Obligation shall not restrict the GUC Trust from settling any claims asserted against it using solely GUC Trust assets and without seeking the issuance of Adjustment Shares;
In the event that the GUC Trust is in a position to make a distribution of Excess GUC Trust Distributable Assets (as defined in the GUC Trust Agreement) but such distribution is stayed due to the pendency of Late Claims Motions or any related litigation, then the GUC Trust and New GM shall engage in good faith discussions regarding whether New GM is willing to pay an appropriate rate of return to the GUC Trust on the principal amount of such stayed distribution and, if so, the amount of that rate of return for such delay in distributions as a result of such litigation; and
In the event that an appropriate rate of return cannot promptly be agreed between the GUC Trust and New GM, the GUC Trust may terminate the New GM Agreement on thirty days written notice to New GM and the Forbearance Obligation will be lifted.
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As disclosed above, while discussions between the GUC Trust and certain of the Potential Plaintiffs regarding the Potential Plaintiff Settlement had meaningfully progressed, at no point was a formal agreement executed among the parties. Nevertheless, on September11, 2017, certain of the Potential Plaintiffs filed a motion with the Bankruptcy Court seeking a finding that the Potential Plaintiff Settlement was binding on the GUC Trust, and seeking to enforce its terms as against the GUC Trust (the “Potential Plaintiffs’ Enforcement Motion”). In the event that the Bankruptcy Court enters an order granting the Potential Plaintiffs’ Enforcement Motion, the New GM Agreement will not become effective or binding on the GUC Trust or New GM. No hearing date or time has yet been scheduled for the Potential Plaintiffs’ Enforcement Motion.

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Motors Liquidation Co Exhibit
EX-99.1 2 d453340dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 HEARING DATE AND TIME: TO BE DETERMINED OBJECTION DEADLINE: TO BE DETERMINED GIBSON,…
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Motors Liquidation Company GUC Trust (OTCMKTS:MTLQU) Recent Trading Information

Motors Liquidation Company GUC Trust (OTCMKTS:MTLQU) closed its last trading session up +0.15 at 8.70 with 3,139 shares trading hands.

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