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Dover Master Fund II buys $70 million of claims against former GM
By Caroline Salls
Pittsburgh, Aug. 25 - Dover Master Fund II, LP bought $70 million of claims against Motors Liquidation Co., according to Wednesday filings with the U.S. Bankruptcy Court for the Southern District of New York.
Specifically, Dover bought a $55 million claim from Doris Powledge and three $5 million claims from Amber Powledge, Austin Powledge and Mary Powledge.
Motors Liquidation was formerly General Motors Corp., a Detroit-based automaker that filed for bankruptcy on June 1, 2009. The new General Motors Corp. emerged from Chapter 11 on July 10, 2009, and Motors Liquidation's Chapter 11 case number is 09-50026.
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