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ralert
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There are 6 letters in RALERT ( A1E1L1R1T1 )
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Ralert might refer to |
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The Revitalizing Auto Communities Environmental Response Trust ("RACER Trust" or "RACER") Trust was created in March 2011 by a Settlement Agreement in the United States Bankruptcy Court for the Southern District of New York. RACER’s mission is to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corporation (“GMC”, “Old GM”) before its Chapter 11 reorganization. Its predecessor, Motors Liquidation Company ("MLC") was created to manage and hold the assets of Old GM before the bankruptcy was complete. MLC was carved into four separate trusts; the first to settle the claims of unsecured creditors (OTC Pink: MTLQU), the second (RACER) to handle environmental response for MLC's remaining assets, a third to handle present and future asbestos-related claims, and a fourth for litigation claims.At its inception, RACER’s portfolio included properties at 89 locations in 14 states, comprising 358 individual parcels and more than 7,000 acres of primarily industrial land, making RACER one of the largest holders of industrial property in the United States. When it was formed, RACER was the largest environmental response and remediation trust in U.S. history.RACER is headquartered in Detroit, Michigan. Its administrative trustee is Elliott P. Laws, a former assistant administrator for the U.S. Environmental Protection Agency and a partner in the law firm Crowell & Moring. The Bankruptcy Court appointed Mr. Laws to a five-year term as administrative trustee when RACER was established in 2011. He was reappointed to a second five-year term in 2016. * The Settlement Agreement assigns RACER three basic roles regarding former GM properties. First, for those properties with environmental issues, RACER manages and funds the environmental cleanup. Second, RACER manages the properties while they are owned by RACER. Third, RACER has authority to “try to sell or transfer [its] Properties ... with the objective they be put to productive or beneficial use.” * RACER is not a government entity but rather an independent trust. |