A lawsuit over $3 billion in claims in the bankruptcy of General Motors Co.'s old assets needs court-ordered mediation, funds owned by Paulson & Co. said on Friday, Bloomberg Briefs reported yesterday. Holders of notes in a Nova Scotia unit of the automaker, including Paulson funds, previously tried to settle a dispute over the claims and failed. Paulson asked Bankruptcy Judge Robert Gerber to reinstate settlement talks, overseen by another bankruptcy judge, according to court papers filed on Friday. Elliott International LP and a unit of Fortress Investment Group LLC are among hedge funds that failed to reach an agreement with the trust liquidating General Motors’ old assets over a $367 million consent fee and a claim of $2.67 billion related to the automaker’s 2009 bankruptcy filing, according to court papers.
