DETROIT – Motors Liquidation Co. (f/k/a General Motors Corp.) (MLC) has announced that on or about April 21, it expects to distribute more than 75 percent of the shares of common stock and warrants that MLC currently owns in General Motors Co. (GM) to MLC’s unsecured creditors as part of MLC’s Second Amended Joint Chapter 11 Plan.

As previously reported, the plan became effective on March 31. MLC also confirmed it has successfully negotiated the resolution of at least 97 percent, or $284 billion, of the $294 billion in claims that were filed against MLC and certain of its direct and indirect subsidiaries (collectively, the “Debtors”) since they filed for bankruptcy in 2009.

The shares and warrants will be distributed to unsecured creditors whose claims have been allowed by the bankruptcy court. For every $1,000 of allowed claims, these unsecured creditors will receive 3.802187 shares, 3.456534 warrants to acquire shares at $10 per share and 3.456534 warrants to acquire shares at $18.33 per share.

Al Koch, MLC CEO and vice chairman of AlixPartners, the consulting firm hired to handle the turnaround plan, commented, “Today’s news marks yet another historic milestone in a case that’s already destined for the history books. Distributing 75 percent of the securities this quickly is truly a remarkable accomplishment, something that many thought could never be done this fast. Also remarkable is being able to confirm that at least 97 percent of claims in this case have been resolved.”

MLC’s Chapter 11 case is one of the largest and most complex bankruptcy cases in U.S. history, and includes the implementation of a unique trust structure that will continue environmental remediation, claims resolution and stock distribution to unsecured creditors.