General Motors Corp. No. 05-CV-73991, 2006 WL 891151 (E.D. Mich. Mar. 31, 2006, aff’d, Int’l Union, UAW v. General Motors Corp., 497 F.3d 615 (6th Cir. 2007)) and the transactions, agreements or arrangements contemplated thereby or by similar agreements.
General Motors Corp. Civil Action No. 07-14074 (E.D. Mich. filed Sept. 9, 2007).
General Motors Corp. Civil Action No. 07-14074 (E.D. Mich. filed Sept. 9, 2007) and/or (2) the class action of UAW et al. v.
General Motors Corp. No. 05-CV-73991, 2006 WL 891151 (E.D. Mich. Mar. 31, 2006, aff’d, Int’l Union, UAW v. General Motors Corp., 497 F.3d 615 (6th Cir. 2007) (“Xxxxx I”). Thereafter, GM, the UAW, and the Class entered into a settlement agreement in the class action of Int’l Union, UAW, et. al. v.
General Motors Corp. Civil Action Xx. 00- 00000 (X.X. Xxxx. filed Sept. 9, 2007) (“Xxxxx XX”), and/or (2) the class action of UAW et al. v.
General Motors Corp. No. 05-CV-73991, 2006 WL 891151 (E.D. Mich. Mar. 31, 2006, aff’d, Int’l Union, UAW v. General Motors Corp., 497 F.3d 615 (6th Cir. 2007). Any such redemption pursuant to the preceding sentence is referred to as a “Termination Redemption.” A Termination Redemption shall be made in cash at a price equal to 100% of the principal amount of the Series U Debentures, plus accrued and unpaid interest thereon to but not including the Redemption Date. For the avoidance of doubt, no Redemption Adjustment Amount shall be payable in connection with any Termination Redemption.
General Motors Corp. Civil Action No. 05-73991, in the United States District Court for the Eastern District of Michigan; and and
General Motors Corp. Civil Action No. 07-14074 (E.D. Mich. filed Sept. 9, 2007) (“Xxxxx XX”) that was approved by the Court on July 31, 2008 (the “Xxxxx XX Settlement”). Subsequent to entering into the MOU and the Xxxxx XX Settlement, GM filed a bankruptcy action, known as [cite case], pursuant to which [New Co] purchased certain assets of GM (such purchase, the “Sale Transaction”). The UAW asserted that, under Document Nos. 13 and 91 of the GM-UAW National Agreement, [New Co] was bound by the terms of the MOU. According to the UAW, any sale of GM’s assets required UAW approval and, in the event of a sale, [New Co] was bound by the terms of the MOU. [New Co] denied that Document Nos. 13 and 91 of the GM-UAW National Agreement and the MOU applied to [New Co] and took the position that it was free to make decisions with respect to retiree health care benefits on a unilateral basis. After due consideration of the factual and legal arguments regarding this issue, as well as the costs, risks, and delays associated with litigating the issue, [New Co] and the UAW have agreed to enter into this Settlement Agreement, which will be presented to the Bankruptcy Court for approval after notice is provided to affected parties. This Settlement Agreement recognizes and approves on the basis set forth herein: (i) the adoption of the [New Co] Plan; (ii) the amendment of the [New Co] Plan to terminate coverage for and exclude from coverage the Class and the Covered Group; (iii) the transfer of the UAW Related Account of the Existing Internal VEBA to the New VEBA; (iv) the termination of participation by the Class and the Covered Group under the Existing Internal VEBA; (v) the termination of the Existing External VEBA in conjunction with the establishment of the New Plan, and the transfer to the New VEBA of all assets and liabilities of the Existing External VEBA; (vi) that all claims for Retiree Medical Benefits incurred after the Implementation Date by the Class and the Covered Group, including but not limited to COBRA continuation coverage where such election is or had been made on or after retirement and any coverage provided on a self-paid basis in retirement, shall be solely the responsibility and liability of the New Plan and the New VEBA; (vii) the Committee’s designation under the New Plan and New VEBA as named fiduciary and administrator of the New Plan; (viii) that the New Plan shall replace the [New Co] Plan with respect to the provision of Retiree Medical Benefits to the Class and th...
General Motors Corp. No. 2:06-cv-12151 (E.D. Mich) (“Xxxxx”). Subsequent to entering those collective bargaining agreements and the class settlement agreement (the “Xxxxx Settlement”), MLC commenced a case under Chapter 11 of the Bankruptcy Code entitled In Re General Motors Corp., et al., No. 09-050026 (REG) (“MLC Chapter 11 Case”) in the U.S. Bankruptcy Court (S.D. N.Y.) (the “Bankruptcy Court”). Pursuant to an Order of the Bankruptcy Court, GMCo purchased substantially all of the assets of MLC. The IUE-CWA and the USW assert, and GMCo and MLC deny, that GMCo and/or MLC are required to continue to provide retiree medical benefits in accordance with those collective bargaining agreements and the class settlement agreement and, further, to provide certain pension benefit guarantees in accordance with collectively bargained memorandums of understanding regarding establishment or restructuring of Delphi Corporation (“Delphi”). GMCo maintains that it is not obligated to assume or to continue to abide by the MLC collective bargaining agreements with the IUE-CWA or the USW, the Xxxxx Settlement or the Delphi restructuring memorandums of understanding. MLC maintains that it is entitled to cancel or terminate all obligations arising from collective bargaining agreements between MLC and the IUE-CWA or the USW. After due consideration of the factual and legal arguments regarding these issues, as well as the costs, risks, and delays associated with litigating these issues, GMCo, MLC and the IUE-CWA and USW have agreed to resolve all claims regarding such matters on the basis set forth in this Settlement Agreement.
General Motors Corp. Life & Disability Benefits Program and Metropolitan Life Insurance Company USDC Southern District NY Xxxxxxx X. Xxxxxxx v. General Motors Corporation USDC Eastern District Southern Division MI Xxxxxx Xxxxxx Xxxxxxxxx x. General Motors Corporation Saginaw County Circuit Court MI Master Restructuring Agreement Exhibit 6.01 Access Agreement Term Sheet ** Confidential Materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions. September 11, 2008 Access Agreement Term Sheet Proposal GM/Delphi The following are the principal terms agreed upon by General Motors Corporation (“GM”) and Delphi Automotive Systems LLC1 and such of its affiliates and subsidiaries as are required to give full effect to the terms hereof (collectively “Delphi”) in connection with an Access Agreement (the “Access Agreement”) to be entered into between the parties:
