Old GM reports $100 mn in losses since July

DETROIT: The company set up to get rid of General Motors Co's unwanted assets says it has lost $100 million since GM emerged from bankruptcy protection in July.

Motors Liquidation Co also says it has assets valued at $1.5 billion and liabilities of $35 billion. The disclosures were made in a filing on Thursday with the US Securities and Exchange Commission.

Motors Liquidation was formed as part of GM's Chapter 11 bankruptcy filing to dispose of closed factories and other assets. The new GM kept profitable assets and is trying to make a comeback.

Motors Liquidation reports only $60,000 in revenue from disposal of assets through the end of September.