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Liquidating Distributions
3 Months Ended
Jun. 30, 2014
Text Block [Abstract]  
Liquidating Distributions
4. Liquidating Distributions

Liquidating distributions in the three months ended June 30, 2014 consisted of the following:

 

(in thousands)    Fair Value  

Distributions during the period

   $ 3,411   

Less: Liquidating distributions payable at March 31, 2014

     (42,111

Add: Liquidating distributions payable at June 30, 2014

     48,978   
  

 

 

 

Total

   $ 10,278   
  

 

 

 

The distributions during the three months ended June 30, 2014 consisted of distributions to (1) holders of Resolved Disputed Claims and (2) 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.

The GUC Trust was obligated at June 30, 2014 to distribute 627,650 shares of New GM Stock, 570,485 of New GM Series A Warrants, and 570,485 of New GM Series B Warrants in the aggregate to the following: (1) holders of GUC Trust Units for excess distributions payable and (2) certain holders of Allowed General Unsecured Claims who had not then satisfied certain informational requirements necessary to receive these securities. In addition, as of June 30, 2014, cash of $0.4 million was then distributable to (a) governmental entities which are precluded by applicable law from receiving distributions of New GM Securities, (b) for distributions in lieu of fractional shares and warrants, and (c) for Dividend Cash associated with the New GM Common Stock that the GUC Trust was obligated to distribute at June 30, 2014.