January 18, 2018 / 9:13 PM / a year ago

Judge tosses GM settlement on ignition switch

NEW YORK, Jan 18 (Reuters) - A federal bankruptcy judge on Thursday said a settlement agreement that would require General Motors Co to pay $1 billion in stock to car owners suing the company over faulty ignition switches was not enforceable.

Judge Martin Glenn of the U.S. Bankruptcy Court in New York said the agreement that car owners had reached with a trust that holds many GM liabilities from before its 2009 bankruptcy was not valid without signatures.

Reporting by Tina Bellon; Editing by Leslie Adler

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