4. Liquidating Distributions

Liquidating distributions during the three months ended December 31, 2013, consisted of the following:


(in thousands)	Fair Value
Distributions during the three months ended December 31, 2013	$	1,159,111
Less: Liquidating distributions payable at September 30, 2013		(100,447	)
Add: Liquidating distributions payable at December 31, 2013		8,466

Total	$	1,067,130

Liquidating distributions during the nine months ended December 31, 2013, consisted of the following:


(in thousands)	Fair Value
Distributions during the nine months ended December 31, 2013	$	1,176,027
Less: Liquidating distributions payable at March 31, 2013		(16,555	)
Add: Liquidating distributions payable at December 31, 2013		8,466

Total	$	1,167,938

The distributions during the three and nine month periods ended December 31, 2013, consisted of (1) the Nova Scotia Settlement Distribution (as defined below), (2) the Special Excess Distribution (as defined below), (3) distributions to holders of Resolved Disputed Claims (exclusive of the Nova Scotia Settlement Distribution) and (4) distributions to holders of Allowed General Unsecured Claims who previously failed to fulfill informational requirements for distribution established in accordance with the GUC Trust Agreement, but subsequently successfully fulfilled such information requirements As described in Note 3, the GUC Trust entered into the Nova Scotia Settlement Agreement on September 26, 2013, which became effective November 25, 2013. The Nova Scotia Settlement Agreement provided for, among other things, (i) the reduction of claims relating to the Nova Scotia Matter, in the aggregate, from $3,060.8 million to $1,550.0 million and allowance of such claim as so reduced (the “Nova Scotia Settlement Claims Allowances”), (ii) a liquidating distribution to be made to the holders of the Allowed General Unsecured Claims resulting from the Settlement Claims Allowances (the “Nova Scotia Settlement Distribution”), and (iii) a subsequent liquidating distribution of Excess GUC Trust Distributable Assets (as defined in the GUC Trust Agreement) to be made to holders of the GUC Trust Units (the “Special Excess Distribution”). The Nova Scotia Settlement Distribution was made on or about December 2, 2013, aggregating approximately $527.5 million and consisted of, in the aggregate, (a) 6,174,015 shares of New GM Common Stock, (b) 5,612,741 New GM Series A Warrants, (c) 5,612,741 New GM Series B Warrants, and (d) 1,550,000 GUC Trust Units. The Special Excess Distribution was made on or about December 23, 2013, aggregating approximately $614.8 million and consisted of, in the aggregate, (a) 6,735,070 shares of New GM Common Stock, (b) 6,122,789 New GM Series A Warrants, and (c) 6,122,789 New GM Series B Warrants. For additional information regarding the Nova Scotia Matter and the related Nova Scotia Settlement Agreement, see the disclosure in Item 1 (“Legal Proceedings”) in Part II of this Form 10-Q.

The GUC Trust was obligated at December 31, 2013, to distribute 93,738 shares of New GM Stock, 85,178 of New GM Series A Warrants, and 85,178 of New GM Series B Warrants in the aggregate to certain holders of Allowed General Unsecured Claims who had not then satisfied certain informational requirements necessary to receive these securities. In addition, as of December 31, 2013, cash of approximately $13,000 was then distributable to governmental entities which are precluded by applicable law from receiving distributions of New GM Securities and for distributions in lieu of fractional shares and warrants.