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GENERAL MOTORS CO. WARRANTS (E Message Board

  • iamnathan iamnathan Dec 28, 2011 10:25 AM Flag

    From MLC - Request for Bondholders Allocation Information

    Wednesday, December 28, 2011 2:51 PM

    Mr. Nathan,

    Thank you for your response to our voicemail. Below is the information mentioned in the previous correspondence.

    At this time information is available under the Disclosure Statement, which can be located at https://www.mlcguctrust.com/KeyDocuments.aspx, under "Key Court Documents"

    Claimants who are U.S. Persons: A description of certain tax considerations that will be relevant to most U.S. persons who hold general unsecured claims begins on page 117.

    a) All Claimants: Regardless of your type of claim, you should carefully read and consider the entire tax disclosure applicable to claimants who are U.S. persons (from page 117 to page 128) and discuss any questions with your own tax advisor.

    b) Bondholder Claimants: The second full paragraph on page 117 describes the tax
    considerations for claims that are considered securities, which may include bonds.

    i) From page 118 of the Disclosure Statement: “In general, debt obligations issued with a weighted average maturity at issuance of less than five (5) years do not constitute securities, whereas debt obligations with a weighted average maturity at issuance of ten (10) years or more constitute securities.” Other factors may also be relevant in determining whether your claim is a security. You should consult your own tax advisor if you have any questions regarding whether your bonds may be considered securities.

    ii) The section labeled “Reorganization Treatment” beginning on page 118 describes the general considerations for claimants with respect to claims that are securities.

    c) Non-Bondholder Claimants: Claims other than bonds may or may not be considered securities.

    i) From page 118 of the Disclosure Statement: “In general, debt obligations issued with a weighted average maturity at issuance of less than five (5) years do not constitute securities, whereas debt obligations with a weighted average maturity at issuance often (10) years or more constitute securities.” Other factors may also be relevant in determining whether your claim is a security. You should consult your own tax advisor if you have any questions regarding whether your claim may be considered a security.

    ii) The section labeled “Reorganization Treatment” beginning on page 118 describes the general considerations for claimants with respect to claims that are securities.

    iii) The section labeled “Fully Taxable Exchange” beginning on page 119 describes the general considerations for claimants with respect to claims that are not securities.

    Regards,

    Motors Liquidation Company GUC Trust

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