Former GM posts improved $10.94 million operating loss for November

By Caroline Salls

Pittsburgh, Jan. 12 - Motors Liquidation Co., formerly General Motors Corp., reported a $10.94 million operating loss for November on $1.81 million in rental income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures compared to a $23.98 million operating loss posted for October on $2.04 million in rental income.

The net income for November was $2.467 billion, improving significantly from a $1.055 billion October net loss.

Motors Liquidation had $1.033 billion in cash and cash equivalents at Nov. 30, down from $1.057 billion at the end of October.

GM, a Detroit-based automaker, filed for bankruptcy on June 1 in the U.S. Bankruptcy Court for the Southern District of New York. The new General Motors Corp. emerged from Chapter 11 on July 10, and Motors Liquidation's Chapter 11 case number is 09-50026.

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