On July 5, 2009, an order was entered approving the sale of substantially all of the Initial Debtors' assets to a new and independent company (now known as General Motors Company) under section 363 of the Bankruptcy Code. On October 9, 2009, Remediation and Liability Management Company, Inc.
However, a recent decision from the Second Circuit Court of Appeals raises questions about the protections offered by such sales depending on the exact circumstances giving rise to the product liability claims.
Where the debtor fails to give proper actual notice to known potential product liability claimants, purchasers may be placed at risk of liability for such claims under a “successor liability” or similar theory. Introduction The Second Circuit Court of Appeals has issued a much anticipated ruling in the General Motors bankruptcy cases, reversing or remanding most of last year’s decision of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) that enjoined claims against General Motors Corporation’s (“Old GM”) successor corporation General Motors LLC (“New GM”) based on faulty ignition switches and other defects in Old GM’s vehicles.
(Eastern Time) as the deadline to file proofs of claim (including claims under section 503(B)(9) of the Bankruptcy Code). What is considered appropriate repair documentation for filing a claim? My engine makes a piston or piston pin noise, but I do not qualify for reimbursement (i.e. If you choose not to file a claim you will be a part of this lawsuit, you will release your claims as alleged in the lawsuit, and will be obligated to accept the outcome of the case whatever it may be. Not everyone who receives the Notice will have an engine knock, ping or slap noise in the vehicle.
Creditors will be notified and provided with a proof of claim form. My engine makes a constant piston or piston pin noise. I did not own or lease the vehicle as of June 15, 2007, or my vehicle is a different model/model year), do I have any recourse? The Notice was sent to all California owners and lessees of 1999-2003 model year Silverado vehicles equipped with 4.8L, 5.3L, 6.0L or 8.1L engines, as identified by sale and vehicle registration records obtained by General Motors.
On December 18, 2009, a supplemental Property Bar Date Order was entered establishing February 10, 2010 at p.m.