Old GM to pay $773 mln in clean-up costs: reports

October 20th, 2010 davidguide

SAN FRANCISCO (MarketWatch) — Motors Liquidation Co. , the bankrupt estate separated from General Motors during the automaker’s reorganization, has reached a $773 million settlement with the U.S. government to clean up the sites of former plants, according to media reports Wednesday. About two-thirds of the plants are contaminated with hazardous waste with about $431 million going directly to states to clean up the former GM plants, according to The Detroit News in its online edition.

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