Will NY Federal Judge Overturn GM Bailout? Posted By: Yidwithlid 12/6/2012 8:00:22 PM The Lid, by Jeff Dunetz Original Article
Judges hate when litigants hide things from them, especially bankruptcy judges. Judge Robert E. Gerber is a United States Bankruptcy Judge for the Southern District of New York. Gerber oversaw the GM managed bankruptcy (bailout) and is now hearing a lawsuit which may overturn a big part of the the deal. As you may remember, the bailout involved the liquidation of the "old" GM and the creation of a new one.
Now a lawsuit filed by a trust representing “old” GM’s unsecured creditors, is attacking a “lockup agreement” which sent hundreds of millions of dollars to a group of hedge