GM to seek court pro­tec­tion against ig­ni­tion suits

Daily Trust - - REUTERS -

- Nige­rian fuel mar­keter Forte Oil dou­bled its first quar­ter pre­tax profit to 1.26 bil­lion naira ($7.79 mil­lion)from 633 mln naira year ago, it said yes­ter­day.

Forte’s rev­enue rose to 34.78 bil­lion naira from 26.6 bil­lion naira in the same pe­riod last year, its said in a fil­ing with the Nige­rian Stock Ex­change

Gen­eral Mo­tors Co said it would ask a U.S. bankruptcy court to bar plain­tiffs from pro­ceed­ing with law­suits against the au­tomaker for claims re­lated to any ac­tions be­fore it filed for bankruptcy in 2009.

The plain­tiffs have al­leged that they bought or leased ve­hi­cles that con­tained an ig­ni­tion switch de­fect. The de­fect has been linked to the deaths of at least 13 people and re­sulted in the re­call of 2.6 mil­lion GM ve­hi­cles.

In a fil­ing with U.S. District Court for the South­ern District of Texas on Tues­day, GM asked for a stay on lit­i­ga­tion re­lated to ig­ni­tion claims un­til a ju­di­cial panel on mul­ti­dis­trict lit­i­ga­tion de­cides on a mo­tion to con­sol­i­date the claims and the bankruptcy court rules on whether the claims vi­o­late GM’s 2009 bankruptcy sale or­der.

The com­pany ear­lier filed with the U.S. District Court for the North­ern District of Cal­i­for­nia seek­ing a stay on pend­ing lit­i­ga­tion.

GM said it would shortly file a mo­tion in the Bankruptcy Court for the South­ern District of New York to en­force an in­junc­tion con­tained in its sale or­der, which the com­pany said bars plain­tiffs from su­ing the re­or­ga­nized com­pany for any claims re­lated to the pre­de­ces­sor com­pany.

The Texas case was in Re: Charles Sil­vas and Grace Sil­vas vs. Gen­eral Mo­tors LLC in the U.S. District Court, South­ern District of Texas, No. 2:14-CV-00089

A man walks past a row of Gen­eral Mo­tors ve­hi­cles at a Chevro­let deal­er­ship on Wood­ward Av­enue in Detroit, Michi­gan April 1, 2014.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.