Motors Liquidation Company GUC Trust Units Notice to Holders

Motors Liquidation Company has confirmed a second amended joint Chapter 11 plan, dated March 18, 2011, and effective March 31, 2011. The plan was confirmed by the Bankruptcy Court for the Southern District of New York. The Motors Liquidation Company GUC Trust Agreement was amended and restated on June 11, 2012.

A legal dispute over the control of Brazilian soy processor Imcopa is threatening to derail a court-run auction for two crushing plants in southern Brazil. Imcopa, under bankruptcy protection for nearly a decade, is facing a minimum price of 1.7 billion reais ($297.35 million) for its assets, as set by the court [1].

Major traders Bunge and Cargill had previously expressed interest in acquiring the plants, which have an annual crushing capacity of 1.5 million metric tons of soy and specialize in non-transgenic soy processing. However, R2C Investimentos, an asset manager appointed by Imcopa's former management, is challenging the auction process, alleging "irregularities" [1].

The ongoing litigation in multiple jurisdictions, involving brewer Cervejaria Petropolis, adds further risk to the bidding process. Despite this, an attorney for Cervejaria Petropolis stated that the legal disputes should not affect the auction [1].

The auction marks the latest attempt to sell the two Imcopa crushing plants, located near soy-rich regions and a large port in Parana state. It is a rare acquisition opportunity in Brazil, the world's largest soybean producer and a major soymeal exporter. However, current negative crushing margins in Brazil may deter buyers [1].

In February 2020, U.S. grains trader Bunge made the sole bid for the two plants but the deal unraveled in 2021 due to protracted court battles involving Cervejaria Petropolis. Bunge never took control of the assets and declined to comment on the new auction. Cargill also advised the court of its potential interest in Imcopa's assets but did not materialize a deal [1].

The new auction requires buyers to deposit the minimum value in an escrow account to repay lenders and taxes. Cervejaria Petropolis, which has run Imcopa since March 2024, is still involved in a sealed investigation targeting former Imcopa executives. R2C has denied any wrongdoing [1].

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L2N3S20SZ:0-bankruptcy-court-sale-of-brazil-soy-crusher-s-assets-under-legal-threat/