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Liquidating Distributions
6 Months Ended
Sep. 30, 2014
Text Block [Abstract]  
Liquidating Distributions
4. Liquidating Distributions

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

 

(in thousands)    Fair Value  

Distributions during the three months ended September 30, 2014

   $ 137   

Less: Liquidating distributions payable at June 30, 2014

     (48,978

Add: Liquidating distributions payable at September 30, 2014

     248,763   
  

 

 

 

Total

   $ 199,922   
  

 

 

 

Liquidating distributions during the six months ended September 30, 2014, consisted of the following:

 

(in thousands)    Fair Value  

Distributions during the six months ended September 30, 2014

   $ 3,548   

Less: Liquidating distributions payable at March 31, 2014

     (42,111

Add: Liquidating distributions payable at September 30, 2014

     248,763   
  

 

 

 

Total

   $ 210,200   
  

 

 

 

The distributions during the three and six months ended September 30, 2014 consisted solely of 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.

The GUC Trust was obligated at September 30, 2014 to distribute 3,749,598 shares of New GM Stock, 3,408,618 of New GM Series A Warrants, and 3,408,618 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 yet satisfied certain informational requirements necessary to receive these securities. In addition, as of September 30, 2014, cash of $3.4 million was then distributable as follows: (a) for Dividend Cash associated with the New GM Common Stock that the GUC Trust was obligated to distribute at September 30, 2014, (b) to governmental entities which are precluded by applicable law from receiving distributions of New GM Securities, and (c) for distributions in lieu of fractional shares and warrants.