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GM Shell Company Agrees to Set Up $773 Million Trust to Clean Up Abandoned Properties

The United States has reached an agreement with the Motors Liquidation Co -- the part of General Motors that split off during bankruptcy and holds the company’s

Jul 31, 2020
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The United States has reached an agreement with the Motors Liquidation Co — the part of General Motors that split off during bankruptcy and holds the company’s unwanted assets — to establish a trust to clean up 89 sites (many of which contain hazardous materials) that were abandoned when the auto company declared bankruptcy.
Under the agreement, which also involved 14 states and one tribal government, the company agreed to set aside $773 million to clean up the sites. According to the White House, the agreement will “give local communities the opportunity to participate in designing the strategy for repurposing these properties in accordance with their specific development objectives, using these funds to both properly clean them up and quickly return them to productive use creating jobs and restoring communities.”
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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