Motors Liquidation (MTLQU) 10-K 3 Jun 20 2020 FY Annual report Financial data

Cover Page

Cover Page	12 Months Ended
	Mar. 31, 2020USD ($)shares
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	Motors Liquidation Co
Entity Central Index Key	0000040730
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	No
Entity Voluntary Filers	Yes
Entity Filer Category	Non-accelerated Filer
Entity Address, State or Province	DE
Entity Interactive Data Current	Yes
Entity Public Float | $	$ 0
Entity Common Stock, Shares Outstanding | shares	0
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false

Statements of Net Assets in Liq

Statements of Net Assets in Liquidation (Liquidation Basis) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
ASSETS
Cash and Cash Equivalents (Note 4)	$ 42,850	$ 1,825
Marketable Securities (Note 4)	392,777	503,228
Accrued Investment Income (Note 4)	2,096	31,552
Other Assets		665
TOTAL ASSETS	437,723	537,270
LIABILITIES
Accounts Payable and Other Liabilities	2,378	3,327
Liquidating Distributions Payable (Note 5)	351,876	1,785
Contingent Settlement Obligation (Note 4)	48,000
Reserves for Expected Costs of Liquidation (Note 7)	28,712	37,485
Reserves for Residual Wind-Down Claims and Costs (Note 7)	177	169
TOTAL LIABILITIES	431,143	42,766
NET ASSETS IN LIQUIDATION (Note 4)	$ 6,580	$ 494,504

Statements of Changes in Net As

Statements of Changes in Net Assets in Liquidation (Liquidation Basis) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Net Assets in Liquidation, beginning of year	$ 494,504	$ 464,803	$ 488,213
Increase (decrease) in net assets in liquidation:
Net additions to reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs (Note 7)	(1,530)	(9,511)	(33,957)
(Liquidating distributions) net reversal of liquidating distributions (Note 5)	(417,909)		6,947
(Incurrence) reversal of contingent settlement obligation (Note 4)	(48,000)	15,000	(15,000)
(Net reversal) dividends and interest income (Notes 3 and 4)	(20,491)	23,852	18,600
Other income (Note 3)	6	360
Net (decrease) increase in net assets in liquidation	(487,924)	29,701	(23,410)
Net Assets in Liquidation, end of year	$ 6,580	$ 494,504	$ 464,803

Statements of Cash Flows (Liqui

Statements of Cash Flows (Liquidation Basis) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Cash flows from (used in) operating activities
Cash receipts from interest and dividends	$ 8,965	$ 9,795	$ 4,803
Cash paid for professional fees, governance costs and other administrative costs	(10,933)	(12,455)	(11,886)
Cash paid for Residual Wind-Down Claims and Costs			(11,705)
Cash paid for distributions	(67,818)	(40)	(433)
Cash receipts for refunds, including amounts due others			196
Cash receipts for refunds		7
Net cash flows used in operating activities	(69,786)	(2,693)	(19,025)
Cash flows from (used in) investing activities
Cash used to purchase marketable securities	(2,210,573)	(4,331,503)	(3,553,448)
Cash from maturities and sales of marketable securities	2,321,024	4,333,458	3,570,716
Net cash flows from investing activities	110,451	1,955	17,268
Cash flows from financing activities
Cash reimbursement from the Avoidance Action Trust	360	0	0
Net cash flows from financing activities	360	0	0
Net increase (decrease) in cash and cash equivalents	41,025	(738)	(1,757)
Cash and cash equivalents, beginning of year	1,825	2,563	4,320
Cash and cash equivalents, end of year	$ 42,850	$ 1,825	$ 2,563

Purpose of Trust

Purpose of Trust	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Purpose of Trust	1. Purpose of Trust The Motors Liquidation Company GUC Trust (“GUC Trust”) is a successor to Motors Liquidation Company (formerly known as General Motors Corp.) (“MLC”) within the meaning of Section 1145 of the United States Bankruptcy Code (“Bankruptcy Code”). The GUC Trust holds, administers and directs the distribution of certain assets pursuant to the terms and conditions of the Second Amended and Restated Motors Liquidation Company GUC Trust Agreement (the “GUC Trust Agreement”), dated as of July 30, 2015, and as amended from time to time, and pursuant to the Second Amended Joint Chapter 11 Plan (the “Plan”), dated March 18, 2011, of MLC and its debtor affiliates (collectively, along with MLC, the “Debtors”), for the benefit of holders of allowed general unsecured claims against the Debtors (“Allowed General Unsecured Claims”). The GUC Trust was formed on March 30, 2011, as a statutory trust under the Delaware Statutory Trust Act, for the purposes of implementing the Plan and distributing the GUC Trust’s distributable assets. Prior to the liquidation in July and August 2015 of all New GM Securities (as defined below) then held by the GUC Trust (pursuant to the Liquidation Order (as defined below)), the Plan (as qualified by the Liquidation Order) generally provided for the distribution of certain shares of common stock (“New GM Common Stock”) of the new General Motors Company, formerly known as NGMCO, Inc. (“New GM”) and any associated Dividend Cash (as defined below) and certain warrants for the purchase of shares of such stock (the “New GM Warrants,” and, together with the New GM Common Stock, the “New GM Securities”) to holders of Allowed General Unsecured Claims pro rata by the amount of such claims. Since such liquidation of the New GM Securities, distributions to holders of Allowed General Unsecured Claims consist entirely of cash distributions in lieu of New GM Securities. In addition, prior to the qualification by the Liquidation Order and the resulting subsequent liquidation of New GM Securities, the Plan provided that each holder of an Allowed General Unsecured Claim would obtain, in the form of GUC Trust Units (as defined below), a contingent right to receive, on a pro rata basis, additional shares of New GM Common Stock (and associated Dividend Cash) and New GM Warrants (if and to the extent such New GM Common Stock and New GM Warrants were not required for the satisfaction of previously Disputed General Unsecured Claims (as defined in Note 2), Term Loan Avoidance Action Claims (as defined in Note 2) or liquidation for the payment of the expenses and liabilities of the GUC Trust), and certain cash, if any, remaining at the dissolution of the GUC Trust. Since the liquidation of all New GM Securities previously held by the GUC Trust described above, the holders of GUC Trust Units have a contingent right to receive additional cash, in lieu of New GM Securities, if any, remaining at the dissolution of the GUC Trust. By order dated July 2, 2015 (the “Liquidation Order”), the Bankruptcy Court approved the conversion of the GUC Trust’s holdings of New GM Securities into cash. To effect such conversion, on July 7, 2015, the GUC Trust converted all of its holdings of New GM Warrants into New GM Common Stock in a cashless exercise. In total, the GUC Trust converted (i) 10,352,556 New GM Series A Warrants (defined below) into 7,407,155 shares of New GM Common Stock, and (ii) 10,352,556 New GM Series B Warrants (defined below) into 4,953,635 shares of New GM Common Stock. Thereafter, the GUC Trust sold all of its holdings of New GM Common Stock for net proceeds aggregating $741.7 million, having completed all such sales on August 5, 2015. As a result, all distributions by the GUC Trust thereafter in respect of any Allowed General Unsecured Claims (including in respect of the GUC Trust Units) are being made solely in cash. Pursuant to the Liquidation Order, the proceeds of such liquidations (net of applicable costs, fees, and expenses paid in respect thereof) were allocated to the beneficiaries of the GUC Trust on a pro rata basis in the following manner: (a) A GUC Trust beneficiary’s entitlement to a particular number of New GM Warrants that were exercised was converted into an entitlement to receive the number of shares of New GM Common Stock into which such New GM Warrants were exercised. Such conversions were 0.71549 shares of New GM Common Stock for each New GM Series A Warrant and 0.47849 shares of Common Stock for each New GM Series B Warrant; and (b) A GUC Trust beneficiary’s entitlement to a particular number of shares of New GM Common Stock that were liquidated (including the exercised New GM Warrants as set forth above) was converted into an entitlement to receive an amount of cash equal to the weighted average sales price (net of any applicable costs, fees, and expenses paid in respect thereof) of all of the New GM Common Stock sold, multiplied by the number of shares of New GM Common Stock to which such GUC Trust beneficiary would otherwise be entitled (including exercised New GM Warrants as set forth above). Such weighted average sales price for the GUC Trust’s holdings of New GM Common Stock that were sold subsequent to June 30, 2015 was $31.23 per share. Following the liquidation described above, the GUC Trust has invested most of the proceeds in certain marketable securities as permitted under the GUC Trust Agreement. The amount of cash and cash equivalents and marketable securities held for distribution to GUC Trust beneficiaries, including Dividend Cash, is referred to herein as Distributable Cash. The GUC Trust is administered by Wilmington Trust Company, not in its individual capacity but solely in its capacity as the trust administrator and trustee (the “GUC Trust Administrator”). Among other rights and duties, subject to the terms, conditions and limitations set forth in the GUC Trust Agreement, the GUC Trust Administrator has the power and authority to hold, manage, sell, invest and distribute the assets comprising the GUC Trust corpus, consult with and retain professionals for the administration of the GUC Trust, prosecute and resolve objections to Disputed General Unsecured Claims, take all necessary actions to administer the wind-down of the affairs of the Debtors upon their dissolution, and upon such dissolution, resolve and satisfy, to the extent allowed, the Residual Wind-Down Claims (as defined below). The activities of the GUC Trust Administrator are overseen by FTI Consulting, Inc., solely in its capacity as monitor (the “GUC Trust Monitor”).

Plan of Liquidation

Plan of Liquidation	12 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Plan of Liquidation	2. Plan of Liquidation On March 31, 2011, the date the Plan became effective (the “Effective Date”), there were approximately $29,771 million in Allowed General Unsecured Claims. In addition, as of the Effective Date, there were approximately $8,154 million in disputed general unsecured claims (“Disputed General Unsecured Claims”), which reflects liquidated disputed claims and a Bankruptcy Court ordered distribution reserve for unliquidated disputed claims, but does not reflect Term Loan Avoidance Action Claims. The total aggregate amount of general unsecured claims, both allowed and disputed, asserted against the Debtors, inclusive of the Term Loan Avoidance Action Claims, was approximately $39,425 million as of the Effective Date. Pursuant to the GUC Trust Agreement, holders of Disputed General Unsecured Claims became entitled to receive a distribution of Distributable Cash from the GUC Trust if, and to the extent that, such Disputed General Unsecured Claims become Allowed General Unsecured Claims (such claims, “Resolved Disputed Claims”). Under the GUC Trust Agreement, the GUC Trust Administrator had the authority to file objections to such Disputed General Unsecured Claims and such claims could be prosecuted through alternative dispute resolution proceedings, including mediation and arbitration, if appropriate. As of March 31, 2020, there were no remaining Disputed General Unsecured Claims. See “Allowed and Disputed Claims” in Note 4 below. Only one avoidance action, captioned Official Committee of Unsecured Creditors of Motors Liquidation Co. v. JPMorgan Chase Bank, N.A. et al., Adv. Pro. No. 09-00504 GUC Trust Distributable Assets Pursuant to the terms of the Plan, the Bankruptcy Court authorized the distribution by New GM of 150 million shares of New GM Common Stock, warrants to acquire 136,363,635 newly issued shares of New GM Stock with an exercise price set at $10.00 per share, that were scheduled to expire on July 10, 2016 (“New GM Series A Warrants”), and warrants to acquire 136,363,635 newly issued shares of New GM Stock with an exercise price set at $18.33 per share that were scheduled to expire on July 10, 2019 (“New GM Series B Warrants”). Record ownership of the New GM Securities was held by MLC for the benefit of the GUC Trust until the dissolution of MLC on December 15, 2011, at which time record ownership was transferred to the GUC Trust. As described above, pursuant to the Liquidation Order, during July and August 2015, all of the GUC Trust’s holdings of New GM Securities were liquidated and, following such liquidation, the GUC Trust’s Distributable Assets principally consist of Distributable Cash. Such Distributable Cash is substantially all invested in certain marketable securities as permitted under the GUC Trust Agreement. Prior to the liquidation of all its holdings of New GM Common Stock, the GUC Trust received dividends on such New GM Common Stock aggregating $24.7 million. Such dividends are required to be applied to the same purpose as the New GM Common Stock to which such dividends relate. If the portion of Distributable Cash applicable to the proceeds from the liquidation of New GM Common Stock is distributed to holders of subsequently allowed Disputed General Unsecured Claims, Term Loan Avoidance Action Claims and GUC Trust Units, then the dividends relating to such Distributable Cash will also be distributed to such holders. If, however, Distributable Cash is appropriated in accordance with the GUC Trust Agreement to fund the costs and liabilities of the GUC Trust, then, in that case, the dividends relating to such Distributable Cash will be applied to such costs and liabilities of the GUC Trust and (just like the appropriated Distributable Cash) will be maintained as Other Administrative Cash (as defined below). Because such dividends are applied to the same purposes as the associated Distributable Cash, any references in this Form 10-K Funding for GUC Trust Costs of Liquidation The GUC Trust has incurred and will continue to incur certain costs to liquidate the trust assets and implement the Plan. On or about the Effective Date, pursuant to the Plan, MLC contributed approximately $52.7 million to the GUC Trust to be held and maintained by the GUC Trust Administrator (the “Administrative Fund”) for the purpose of paying certain fees and expenses (including certain tax obligations) incurred by the GUC Trust (including fees of the GUC Trust Administrator and the GUC Trust Monitor and the fees and expenses for professionals retained by the GUC Trust), other than the Reporting Costs, as defined below (“Wind-Down Costs”). As of March 31, 2020, the remaining Administrative Fund aggregated $1.1 million (consisting of cash and cash equivalents and marketable securities). Such remaining amount of the Administrative Fund has been designated for the satisfaction of certain specifically identified costs and liabilities of the GUC Trust, and such amount may not be used for the payment of GUC Trust Professionals fees and expenses or other Wind-Down Costs. Pursuant to the GUC Trust Agreement, cash or investments from the Administrative Fund, if any, which remain at the winding up and conclusion of the GUC Trust must be returned to the DIP Lenders. The GUC Trust Agreement authorized the GUC Trust to liquidate approximately $5.7 million of New GM Securities (the “Initial Reporting Cash”) shortly after the Effective Date for the purposes of funding certain fees and expenses of the GUC Trust (the “Reporting Costs”), including those directly or indirectly relating to (i) reports to be prepared and filed by the GUC Trust pursuant to applicable rules, regulations and interpretations of the SEC, (ii) the transfer, registration for transfer and certification of GUC Trust Units, and (iii) the application by the Committee to the Internal Revenue Service (“IRS”) for a private letter ruling regarding the tax treatment of the GUC Trust and the holders of Allowed General Unsecured Claims in respect to the distribution of New GM Securities, and (iv) certain legal proceedings relating to the Term Loan Avoidance Action. The GUC Trust Agreement provides that the Administrative Fund may not be utilized to satisfy any Reporting Costs. The GUC Trust Agreement provides that, to the extent the GUC Trust Administrator determines that the Administrative Fund is not sufficient to satisfy the current or projected Wind-Down Costs or the Initial Reporting Cash is not sufficient to satisfy the current or projected Reporting Costs, the GUC Trust Administrator, with the approval of the GUC Trust Monitor, is authorized to set aside Distributable Cash from distribution for these purposes. The GUC Trust Administrator may then appropriate such Distributable Cash to fund the Wind-Down Costs and/or Reporting Costs with the required approval of the Bankruptcy Court. Distributable Cash that is set aside and/or appropriated in this manner will not be available for distribution to the beneficiaries of GUC Trust Units, and any appropriation of Distributable Cash (including related Dividend Cash) will be classified as “Other Administrative Cash” under the GUC Trust Agreement. The setting aside (or appropriation) of Distributable Cash, including Dividend Cash, itself is not, and has not been, reflected in the Statement of Net Assets in Liquidation or any of the other financial statements of the GUC Trust. Separate from this process of setting aside (or appropriating) Distributable Cash to satisfy unfunded projected costs and expenses of the GUC Trust, as a matter of financial reporting, the GUC Trust records reserves in its Statement of Net Assets in Liquidation (the source of funding of which is not addressed therein) for all expected costs of liquidation for which there is a reasonable basis for estimation. For this reason, among others, there is not a direct relationship between the amount of such reserves reflected in the Statement of Net Assets in Liquidation and the amount of any Distributable Cash that is set aside (or appropriated) for current or projected costs and expenses of the GUC Trust. Adjustments to the Reserves for Expected Costs of Liquidation as reported in the Statement of Net Assets in Liquidation are recorded only when there is a reasonable basis for estimation of the expected incurrence of additional costs or a reduction in expected costs. For more information regarding the Reserves for Expected Costs of Liquidation reflected in the accompanying Statement of Net Assets in Liquidation, see Note 7. Prior to the liquidation of all New GM Securities in July and August 2015 described above, the GUC Trust was authorized, with the approval of the GUC Trust Monitor, to set aside from distribution New GM Securities for the funding purposes described above and to sell such set aside New GM Securities with the approval of the Bankruptcy Court. The Bankruptcy Court previously approved in March and December 2012, and again in January 2015, the sale of New GM Securities to fund the then current and projected costs and expenses of the GUC Trust. The March 2012 Bankruptcy Court order also authorized the sale of further New GM Securities aggregating $13.7 million for the purpose of funding certain fees, costs and expenses of the Avoidance Action Trust and the transfer of the sale proceeds to the Avoidance Action Trust (such sale proceeds were so transferred in May 2012). Prior to the liquidation of all New GM Securities described above, sales of New GM Securities to fund projected Wind-Down Costs and Reporting Costs through calendar year 2015 aggregated approximately $61.7 million, including Dividend Cash of $0.2 million and the Initial Reporting Cash (which amounts comprised part of the GUC Trust’s Other Administrative Cash). Such securities sold aggregated 1,043,801 shares of New GM Common Stock, 948,887 New GM Series A Warrants and 948,887 New GM Series B Warrants. In December 2015, February 2017, March 2018, January 2019 and January 2020, the Bankruptcy Court approved the appropriation of Distributable Cash aggregating approximately $58.8 million to fund the projected costs and expenses of the GUC Trust through calendar year 2020. Such appropriation reduced Distributable Cash and increased Other Administrative Cash. As of March 31, 2020, Other Administrative Cash aggregated $40.8 million. On March 27, 2020, the GUC Trust Administrator filed a motion seeking authority from the Bankruptcy Court to appropriate Distributable Cash of $50.0 million for the purpose of satisfying settlement consideration pursuant to the Amended Settlement Agreement described in Item 3 (“Legal Proceedings”). On April 23, 2020, the Bankruptcy Court issued an order approving such motion. To the extent that any of the Other Administrative Cash is not ultimately required and is held by the GUC Trust at the time of its dissolution, such remaining Other Administrative Cash will be distributed by the GUC Trust to holders of GUC Trust Units. As of March 31, 2020, Distributable Cash of $41.5 million was set aside for projected GUC Trust fees, costs and expenses to be incurred beyond 2020. Accordingly, such Distributable Cash is not available for distribution to the beneficiaries of the GUC Trust Units. Set aside and/or appropriated Distributable Cash is reflected in cash and cash equivalents and marketable securities in the Statement of Net Assets in Liquidation until expended. Funding for Potential Tax Liabilities on Dispositions of New GM Securities, Dividends on New GM Common Stock and Investment Income The GUC Trust is subject to U.S. federal income tax on realized net gains from the distribution and sale of New GM Securities (such taxes, “Taxes on Distribution”). The GUC Trust is also subject to U.S. federal income tax on dividends received on New GM Common Stock held by the GUC Trust (such taxes, “Dividend Taxes”) and on investment income earned on Distributable Cash (such taxes, “Investment Income Taxes”). The GUC Trust Agreement provides that the Administrative Fund may not be utilized to satisfy any Taxes on Distribution, Dividend Taxes or Investment Income Taxes. As such, the GUC Trust Administrator is authorized, with the approval of the GUC Trust Monitor, to set aside from distribution Distributable Cash in amounts that would be sufficient to satisfy any potential Taxes on Distribution, Dividend Taxes or Investment Income Taxes. Any Distributable Cash that is set aside for Dividend Taxes and Investment Income Taxes is included in the set-aside set-aside set-aside Prior to the liquidation of all New GM Securities in July and August 2015 described above, the GUC Trust was authorized, with the approval of the GUC Trust Monitor, to set aside from distribution New GM Securities to fund potential Taxes on Distribution, Dividend Taxes and Investment Income Taxes and to sell such set aside New GM Securities to fund the Taxes on Distribution, Dividend Taxes or Investment Income Taxes with the approval of the GUC Trust Monitor and, with respect to Dividend Taxes and Investment Income Taxes only, with the approval of the Bankruptcy Court. During the quarter ended March 31, 2020, the GUC Trust Administrator reviewed the potential Taxes on Distribution, Dividend Taxes and Investment Income Taxes. As a result of such review, the GUC Trust Administrator determined that no Distributable Cash should be set aside for potential Taxes on Distribution, Dividend Taxes or Investment Income Taxes. As a result of the application of Section 505(b) of the Bankruptcy Code, the GUC Trust’s federal income tax returns for the year ended March 31, 2019 and all prior years are no longer subject to examination by the Internal Revenue Service (“IRS”), and no income taxes may be assessed for the year ended March 31, 2019 or any prior year. The GUC Trust’s remaining capital loss carryovers have expired and can no longer be utilized by the GUC Trust. The net operating loss carryovers are still subject to examination by the IRS in subsequent years if those losses, if any, are utilized. Such utilization (on a net basis) is not expected as a result of the sale of all previously held New GM Securities in the year ended March 31, 2016. Accordingly, no income taxes are expected to be paid in the future. See Note 8 and “Critical Accounting Policies and Estimates – Income Taxes” in Item 7 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”) above for more information regarding income taxes and remaining capital and net operating loss carryovers generated in prior years that are still subject to examination by the IRS, and which potentially could succeed to Claimants (as defined below pursuant to tax rules) and the material uncertainties associated therewith. The GUC Trust Administrator intends to continue to reevaluate the amount of Distributable Cash set aside on a quarterly basis. For additional information, see “Net Assets in Liquidation—Distributable Cash Set Aside from Distribution” in Item 7 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”) above. Residual Wind-Down Claims and Costs Upon the dissolution of the Debtors, which occurred on December 15, 2011, the GUC Trust became responsible for resolving and satisfying (to the extent allowed) all remaining disputed administrative expenses, priority tax claims, priority non-tax The amount of Avoidance Action Defense Costs incurred exceeded the corresponding cash of $1.4 million received by the GUC Trust from MLC on the Dissolution Date by approximately $30.2 million. As a result, new Residual Wind-Down Claims arose in the amount of such excess. As a result of the Term Loan Avoidance Action settlement as described above and by virtue of the terms of the associated settlement agreement, the GUC Trust is not responsible for payment of any further Avoidance Action Defense Costs. As of March 31, 2020, Residual Wind-Down Assets aggregating $0.2 million were held by the GUC Trust and were recorded in cash and cash equivalents and marketable securities in the accompanying Statement of Net Assets in Liquidation. There were no remaining expected Residual Wind-Down Claims and Costs against such assets as of March 31, 2020. Accordingly, the GUC Trust expects to return the remaining Residual Wind-Down Assets to the DIP Lenders upon the winding up and conclusion of the GUC Trust. A corresponding amount is recorded in the reserves for Residual Wind-Down Claims and Costs in the accompanying Statement of Net Assets in Liquidation. In addition to the Residual Wind-Down Assets, the GUC Trust also received on the Dissolution Date approximately $3.4 million in cash from MLC, which amount included: (i) $1.4 million in respect of certain costs, fees and expenses payable under the Plan to the indenture trustees and fiscal and paying agents for the previously outstanding debt of MLC (the “Indenture Trustee / Fiscal and Paying Agent Costs”), and (ii) $2.0 million in respect of Reporting Costs. The funds received were credited to the reserve for expected costs of liquidation. Any unused portion of the funds designated for the Indenture Trustee / Fiscal and Paying Agent Costs must be returned to the DIP Lenders and will not be available for distribution to the holders of GUC Trust Units at the winding up and conclusion of the GUC Trust. As of March 31, 2020, funds designated for the Indenture Trustee / Fiscal and Paying Agents Costs held by the GUC Trust approximated $0.1 million and are recorded in cash and cash equivalents in the accompanying Statement of Net Assets in Liquidation. None of the approximately $2.0 million in funds designated for Reporting Costs remained as of March 31, 2020.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	3. Basis of Presentation and Significant Accounting Policies Liquidation Basis of Accounting The GUC Trust exists solely for the purposes described above in Note 1 and has a finite life. Accordingly, the GUC Trust has prepared the accompanying financial statements on the liquidation basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under the liquidation basis of accounting, assets are stated at their estimated realizable value, which is the non-discounted The GUC Trust beneficiaries are holders of Allowed General Unsecured Claims (to the extent their liquidating distributions have not yet been paid to them) and holders of GUC Trust Units. As Disputed General Unsecured Claims and Term Loan Avoidance Action Claims were resolved and allowed and thereby became Allowed General Unsecured Claims, the holders thereof became entitled to receive liquidating distributions of Distributable Cash (including Dividend Cash) and GUC Trust Units pro rata by the amount of such claims. Upon such occurrence, the GUC Trust incurred an obligation to distribute Distributable Cash and, accordingly, liquidating distributions payable were recorded in the amount of Distributable Cash (previously the fair value of New GM Securities) that the GUC Trust was obligated to distribute as of the end of the period in which the Disputed General Unsecured Claims and Term Loan Avoidance Action Claims were resolved as Allowed General Unsecured Claims. Prior to the resolution and allowance of Disputed General Unsecured Claims and Term Loan Avoidance Action Claims, liabilities were not recorded for the conditional obligations associated with Disputed General Unsecured Claims and Term Loan Avoidance Action Claims. Rather, the beneficial interests of GUC Trust beneficiaries in the residual assets of the GUC Trust were reflected in Net Assets in Liquidation of the GUC Trust in the financial statements. Under the liquidation basis of accounting, the GUC Trust presents two principal financial statements: a Statement of Net Assets in Liquidation and a Statement of Changes in Net Assets in Liquidation. In addition, although not required under the liquidation basis of accounting, the GUC Trust also presents a Statement of Cash Flows, in accordance with the requirements of the GUC Trust Agreement. Fiscal Year The GUC Trust’s fiscal year begins on April 1 and ends on the following March 31. Cash Equivalents, Marketable Securities and Accrued Investment Income on Cash Equivalents and Marketable Securities Cash equivalents consist of balances held in money market funds. Marketable securities consist of short-term investments in U.S. Treasury bills. The GUC Trust has valued these securities at fair value based on carrying value, which approximates fair value (when receivables for associated interest income earned included in accrued investment income in the accompanying Statements of Net Assets in Liquidation are combined with the carrying value of such U.S. Treasury bills). Estimated investment income expected to be received on holdings of marketable securities and cash equivalents is accrued under the liquidation basis of accounting to the extent that a reasonable basis for estimation exists. Such accrual is estimated principally based on forecasted cash outflows and expected returns based on recent yields (or expected yields resulting from recent changes in the federal funds rate) on U.S. Treasury bills in which the marketable securities are invested. Modifications are made to the accrual when yields on holdings of U.S. Treasury bills as of the date of the financial statement significantly differ from more recent yields. Estimates of forecasted cash outflows consider the amount and timing of distributions with respect of GUC Trust Units. Such estimates may change in the near term, and such change may be material. Dividends on New GM Common Stock Dividends previously received on New GM Common Stock previously held by the GUC Trust are required to be applied to the same purpose as the New GM Common Stock to which such dividends relate. If the portion of Distributable Cash applicable to the liquidated New GM Common Stock is distributed to holders of subsequently Resolved Allowed Claims and GUC Trust Units, then the dividends relating to such Distributable Cash will also be distributed to such holders. If, however, Distributable Cash is appropriated by the GUC Trust in accordance with the GUC Trust Agreement to fund the costs and liabilities of the GUC Trust, then, in that case, the dividends relating to such appropriated Distributable Cash will be applied to such costs and liabilities of the GUC Trust and (just like the appropriated Distributable Cash) will be maintained in Other Administrative Cash. Because such dividends are applied to the same purpose as the associated Distributable Cash, any references to Distributable Cash should be understood to include the dividends relating to such Distributable Cash, unless expressly indicated otherwise. The amount of cash and cash equivalents and marketable securities held by the GUC Trust that relates to dividends received by the GUC Trust on New GM Common Stock previously held by the GUC Trust is referred to as Dividend Cash and is included in the amount of cash and cash equivalents and marketable securities held for distribution to GUC Trust beneficiaries that is referred to as Distributable Cash (except to the extent of dividends relating to appropriated Distributable Cash that is classified as Other Administrative Cash following such appropriation). Accounts Payable and Other Liabilities Accounts payable and other liabilities represent amounts due to professionals, other service providers, and vendors for services rendered or goods received through the end of the period. Contingent Settlement Obligation The GUC Trust accrues for loss contingencies when it is probable that a liability has been incurred as of the date of the financial statements and the amount of such liability can be reasonably estimated. In assessing whether a liability has been incurred as of the date of the financial statements, the GUC Trust considers events occurring after the date of the financial statements that provide additional evidence with respect to conditions that existed as of the date of the financial statements, including the estimates inherent in the process of preparing financial statements. Accordingly, during the quarter ended March 31, 2020, the GUC Trust accrued a contingent settlement obligation pursuant to the Amended Settlement Agreement described in Item 3 (“Legal Proceedings”). During the quarter ended March 31, 2018, the GUC Trust accrued a contingent settlement obligation pursuant to a previously executed settlement agreement. As a result of developments in the related litigation, such accrual was reversed in the quarter ended September 30, 2018, due to uncertainties then associated with the effectiveness of such settlement agreement in effect at that time. Estimates regarding incurrence of the contingent settlement obligation may change in the near term, and such change may be material. Reserves for Residual Wind-Down Claims and Costs Upon the dissolution of MLC, which occurred on December 15, 2011, the GUC Trust became responsible for resolving and satisfying (to the extent allowed) all remaining Residual Wind-Down Claims. On the date of dissolution of the Debtors, the Debtors transferred to the GUC Trust Residual Wind-Down Assets in an amount necessary to satisfy the ultimate allowed amount of such Residual Wind-Down Claims (including certain Avoidance Action Defense Costs) and the Residual Wind-Down Costs, as estimated by the Debtors. A corresponding amount was recorded in the reserves for Residual Wind-Down Claims and Costs. Should the Residual Wind-Down Claims and the Residual Wind-Down Costs be less than the Residual Wind-Down Assets, any excess funds will be returned to the DIP Lenders. While not expected, if, collectively, the actual amounts of Residual Wind-Down Claims (including certain Avoidance Action Defense Costs) allowed and the Residual Wind-Down Costs exceed the Residual Wind-Down Assets, the GUC Trust Administrator may be required to set aside from distribution and appropriate Distributable Cash to fund the shortfall. Any such appropriation would reduce the amount of Distributable Cash (including Dividend Cash) available for distribution to holders of GUC Trust Units. Reserves for Expected Costs of Liquidation Under the liquidation basis of accounting, the GUC Trust is required to estimate and accrue the costs associated with implementing the Plan and distributing the GUC Trust’s distributable assets. These costs, described as Wind-Down Costs and Reporting Costs in Note 2, consist principally of professional fees, costs of governance, and other administrative expenses. These amounts may vary significantly due to, among other things, the time and effort required to complete all activities and distributions under the Plan. The GUC Trust has recorded reserves for expected costs of liquidation that represent estimated costs to be incurred over the remaining liquidation period of the GUC Trust for which there is a reasonable basis for estimation. The amount of liquidation costs that will ultimately be incurred depends both on the period of time and on the extent of activities required for the GUC Trust to complete its functions and responsibilities under the Plan and the GUC Trust Agreement. Significant uncertainty remains both as to that time period and as to the extent of those activities. As a result, estimates for the expected costs of liquidation may change in the near term, and such change could be material. As of March 31, 2020, such remaining liquidation period is estimated to extend through July 2021 and has been estimated predominantly on a modified probability-weighted basis, which the GUC Trust believes is the most appropriate measurement basis under the circumstances. Where an outcome is estimated to be likely, the likely outcome has been used as the best estimate and no weight has been given to the unlikely outcome. In addition, consistent with the liquidation basis of accounting, no consideration has been given to potential outcomes to the extent there does not exist a reasonable basis for estimation. The remaining liquidation period is dependent predominantly on the estimate of the remaining period of time for resolution of litigation involving certain General Motors vehicle recalls described in Item 3 (“Legal Proceedings”). In addition, certain additional estimated time to wind down the GUC Trust following resolution of the litigation is included in the estimated liquidation period. Future developments in the General Motors vehicle recall litigation could extend the current estimate of such minimum remaining period of time for resolution and, therefore, extend the estimated minimum remaining liquidation period of the GUC Trust beyond July 2021. In addition, certain liquidation costs that are expected to be prepaid by the GUC Trust upon its dissolution have also been estimated and accrued. The GUC Trust’s estimates regarding the costs and remaining liq uidation period may change in the near term, and such change may be ma terial. As the GUC Trust incurs liquidation costs, the reserves are released to offset the costs incurred and a liability to the service provider is recognized as an accounts payable or accrued liability until paid. In addition, because the GUC Trust only records reserves for expected costs for which there is a reasonable basis for estimation under applicable U.S. GAAP, additional costs may be identified from time to time for which additional reserves must be recorded. As such costs are identified, the GUC Trust records an increase to its reserves and charges such increase as an addition to such reserves in the Statement of Changes in Net Assets in Liquidation. The process of recording reserves for expected costs of liquidation as a matter of financial reporting is separate and distinct from the process by which Distributable Cash is set aside from distribution for the purposes of funding projected costs of liquidation. Such projected costs are generally estimated on a more conservative (i.e., more inclusive) basis and include contingencies that are not permitted to be accrued in reserves for expected costs of liquidation under applicable U.S. GAAP. For a more complete description of the process of setting aside Distributable Cash to fund projected costs and potential liabilities of the GUC Trust, see Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Net Assets in Liquidation” under the heading “—Distributable Cash Set Aside from Distribution” above. Income Taxes The GUC Trust is considered to be a Disputed Ownership Fund pursuant to Treasury Regulation Section 1.468B-9. Section 1.468B-9(c)(1)(ii). The GUC Trust generates gross income in the form of interest and dividend income (including dividends received on its previous holdings of New GM Common Stock) and recognizes capital gains and/or losses upon its disposition of New GM Securities, which are reduced by administrative expenses and accumulated net operating and capital losses, to compute modified gross income. As the GUC Trust is taxable for federal income tax purposes, a current income tax liability or asset, if any, is recognized for estimated taxes payable or receivable. Deferred tax liabilities and assets are recognized for the estimated future tax effects of temporary differences between financial reporting and tax accounting. Deferred tax assets are reviewed for recoverability and valuation allowances are provided as necessary. The GUC Trust is not subject to state income taxes under current law. Accordingly, no current or deferred state income tax liabilities and assets are recorded. The process of recognizing deferred tax assets and liabilities and any current income taxes payable as a matter of financial reporting is separate and distinct from the process by which any Distributable Cash is set aside from distribution for the purposes of funding potential income tax liabilities. Any such potential income tax liabilities are generally estimated on a more conservative (i.e., more inclusive) basis and may include amounts of potential income tax liabilities beyond the amounts that are permitted to be recorded under applicable accounting standards. For a more complete description of the process of setting aside Distributable Cash to fund projected costs and potential income tax liabilities of the GUC Trust, see Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Net Assets in Liquidation” under the heading “—Distributable Cash Set Aside from Distribution” above. The GUC Trust recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authority, based on the technical merits of the position, review of available evidence and consultation with GUC Trust Professionals. The GUC Trust’s tax liability with respect to its federal income tax returns for the year ended March 31, 2019 and all prior years are no longer subject to examination as a result of the application of Section 505(b) of the Bankruptcy Code. However, remaining net operating loss carryovers generated through March 31, 2020 aggregating $140.6 million, could be subject to examination by the IRS in subsequent years if those losses are utilized. It is not expected that such losses will be utilized (on a net basis) in the future. As of March 31, 2020, there are no known items which would result in a significant accrual for uncertain tax positions. Use of Estimates The preparation of financial statements on the liquidation basis in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities. These estimates are subject to known and unknown risks, uncertainties and other factors that could materially impact the amounts reported and disclosed in the financial statements and related footnotes. Significant estimates include estimated investment income expected to be received, expected liquidation costs, incurrence of the contingent settlement obligation and fair value of marketable securities. Actual results could differ from those estimates. Recent Accounting Standards Changes to U.S. GAAP are made by the FASB in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The GUC Trust considers the applicability and impact of all ASUs. ASUs not noted herein were assessed and determined to be not applicable.

Net Assets in Liquidation

Net Assets in Liquidation	12 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Net Assets in Liquidation	4. Net Assets in Liquidation Description Under the GUC Trust Agreement and the Plan, as described more fully in Note 1, the beneficiaries of the GUC Trust are current holders of Allowed General Unsecured Claims (to the extent their liquidating distributions have not yet been paid to them) and current holders of GUC Trust Units. Assets of the GUC Trust consisting primarily of Distributable Cash (including Dividend Cash) as described in Note 1 are available to be distributed to the Trust Beneficiaries (“GUC Trust Distributable Assets”) in accordance with the Plan and the GUC Trust Agreement, except to the extent that they are set aside or appropriated for funding the expected costs of liquidation of the GUC Trust. The amounts of net assets in liquidation presented in the accompanying Statements of Net Assets in Liquidation correspond to the amounts of GUC Trust Distributable Assets as of the respective dates, after certain adjustments including reductions for the amounts of set aside Distributable Cash and any appropriated Distributable Cash. As of March 31, 2020, GUC Trust Distributable Assets aggregated approximately $349.4 million. For additional information, see “Net Assets in Liquidation—Distributable Assets” in Item 7 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”) above. Cash and Cash Equivalents and Marketable Securities As of March 31, 2020 and 2019, cash and cash equivalents and marketable securities aggregated $435.6 million and $505.1 million, respectively, and are comprised of the following: (in thousands) 2020 2019 Distributable Cash (including associated Dividend Cash) $ 393,431 $ 472,070 Other Administrative Cash 40,767 31,445 Administrative Fund 1,161 1,246 Residual Wind-Down Assets 178 175 Funds for Indenture Trustee / Fiscal Paying Agent Costs 90 117 Total 435,627 $ 505,053 As described in Note 5, as of March 31, 2020, the GUC Trust had accrued liquidating distributions payable aggregating $351.9 million. Such amount includes $349.4 million of distributions payable to holders of GUC Trust Units in respect of Excess GUC Trust Distributable Assets. As described in “Net Assets in Liquidation—Distributable Assets” in Item 7 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”) above , the GUC Trust mad o 28, Accrued Investment Income on Cash Equivalents and Marketable Securities As of March 31, 2020 and 2019, the GUC Trust had accrued approximately $0.8 million and $30.3 million, respectively, of investment income on marketable securities and cash equivalents expected to be earned over the remaining liquidation period in accordance with the liquidation basis of accounting. Such accrual is estimated principally based on forecasted cash outflows and expected returns based on recent yields (or expected yields resulting from recent changes in the federal funds rate) on U.S. Treasury bills in which the marketable securities are invested. Estimates of forecasted cash outflows consider the amount and timing of distributions in respect of GUC Trust Units. During the year ended March 31, 2020, such accrual was reduced by approximately $29.5 million primarily due to a reduction in yields on U.S. Treasury bills, along with shortenings in the expected dates to make distributions in respect of GUC Trust Units. Such shortenings in the expected dates to make distributions in respect of GUC Trust Units is associated with the execution of the Amended Settlement Agreement described in Item 3 (“Legal Proceedings”). Such accrual, along with receivables for investment income earned as of March 31, 2020 and 2019, is included in Accrued Investment Income in the accompanying Statements of Net Assets in Liquidation. Potential Distributable Capital and Net Operating Loss Carryovers As described in Note 8 and further described in “Critical Accounting Policies and Estimates—Income Taxes” in Item 7 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”), the GUC Trust’s unused capital and net operating loss carryovers potentially could succeed to Claimants (as defined above pursuant to tax rules) upon the termination of the GUC Trust. Reference is made thereto for information regarding such potential distributable loss carryovers and the material uncertainties associated therewith. Trust Units As described in Note 1, under the Plan, each holder of an Allowed General Unsecured Claim has retained a contingent right to receive, on a pro rata basis, additional Distributable Cash (if and to the extent not required for the satisfaction of previously Disputed General Unsecured Claims or Term Loan Avoidance Action Claims, or appropriation for the payment of the expenses or any tax liabilities of the GUC Trust). The GUC Trust has issued units representing such contingent rights (“GUC Trust Units”) at the rate of one GUC Trust Unit per $1,000 of Allowed General Unsecured Claims to each holder of an Allowed General Unsecured Claim, subject to rounding pursuant to the GUC Trust Agreement, in connection with the initial recognition of each Allowed General Unsecured Claim. The GUC Trust may make at its discretion quarterly liquidating distributions to holders of GUC Trust Units to the extent that (i)(a) any previously Disputed General Unsecured Claims asserted against the Debtors’ estates or Term Loan Avoidance Action Claims are either disallowed or are otherwise resolved favorably to the GUC Trust (thereby reducing the amount of GUC Trust assets reserved for distribution in respect of such asserted or potential claims) or (b) certain Excess GUC Trust Distributable Assets (as defined in the GUC Trust Agreement) that were previously set aside from distribution are released in the manner permitted under the GUC Trust Agreement, and (ii) as a result of the foregoing, the amount of Excess GUC Trust Distributable Assets (as defined in the GUC Trust Agreement) as of the end of the relevant quarter exceeds thresholds set forth in the GUC Trust Agreement. The following table presents the changes during the years ended March 31, 2020, 2019 and 2018 in the numbers of GUC Trust Units outstanding or which the GUC Trust was obligated to issue: Year Ended Year Ended Year Ended Outstanding or issuable as of beginning of year 31,855,504 31,855,504 31,854,103 Issued during the year 230,997 — 1,448 Less: Issuable as of beginning of year — — (47 ) Add: Issuable as of end of year — — — Outstanding as of end of year (1) (2) 32,086,501 31,855,504 31,855,504 (1) The number of GUC Trust Units outstanding at any time represents GUC Trust Units issued in respect of Allowed General Unsecured Claims that were allowed in prior periods, including GUC Trust Units held by the GUC Trust for the benefit of (a) holders of Allowed General Unsecured Claims who had not yet supplied information required by the GUC Trust in order to effect the initial distribution to which they are entitled and (b) governmental entities that are precluded by applicable law from receiving distributions of GUC Trust Units. (2) The number of GUC Trust Units outstanding as of end of year does not equal the amount of Allowed General Unsecured Claims on a 1 to 1,000 basis as of the corresponding date because of additional GUC Trust Units that were issued due to rounding. Contingent Settlement Obligation As described in Item 3 (“Legal Proceedings”), the GUC Trust has executed the Amended Settlement Agreement with certain representatives of a proposed class of E L P Allowed and Disputed Claims The following table presents a summary of activity with respect to Allowed and Disputed General Unsecured Claims and Term Loan Avoidance Action Claims for the years ended March 31, 2020 and 2019: (in thousands) Allowed General Disputed General Term Loan Maximum Total Claim Total, March 31, 2018 $ 31,855,432 $ 50,000 $ 1,494,986 $ 1,544,986 $ 33,400,418 New Allowed General Unsecured Claims — — — — — Disputed General Unsecured Claims resolved or disallowed — — — — — Term Loan Avoidance Action Claims resolved or disallowed — — (143 ) (143 ) (143 ) Total, March 31, 2019 31,855,432 50,000 1,494,843 1,544,843 33,400,275 New Allowed General Unsecured Claims 231,000 — — — 231,000 Disputed General Unsecured Claims resolved or disallowed — (50,000 ) — (50,000 ) (50,000 ) Term Loan Avoidance Action Claims resolved or disallowed — — (1,494,843 ) (1,494,843 ) (1,494,843 ) Total, March 31, 2020 $ 32,086,432 $ — $ — $ — $ 32,086,432 (1) Remaining Disputed General Unsecured Claims as of March 31, 2019 and 2018 represented a general claim contingency for any future disputed claims or other obligations of the GUC Trust. During the year ended March 31, 2020, the GUC Trust released such general claim contingency because it was deemed no longer necessary. (2) Maximum Amount of Unresolved Claims represents the sum of Disputed General Unsecured Claims and Term Loan Avoidance Action Claims. (3) Total Claim Amount represents the sum of Allowed General Unsecured Claims and Maximum Amount of Unresolved Claims. As described in Note 2 ,

Liquidating Distributions

Liquidating Distributions	12 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Liquidating Distributions	5. Liquidating Distributions Liquidating distributions (net reversal of liquidating distributions) in the years ended March 31, 2020, 2019 and 2018 consisted of the following: (in thousands) 2020 2019 2018 Distributions during the year $ 67,818 $ 40 $ 433 Less: Liquidating distributions payable as of beginning of year (1,785 ) (1,825 ) (9,205 ) Add: Liquidating distributions payable as of end of year 351,876 1,785 1,825 Total (net reversal) $ 417,909 $ — $ (6,947 ) The distributions during the year ended March 31, 2020 consisted of distributions to (a) holders of Resolved Term Loan Avoidance Action Claims and (b) holders of Allowed General Unsecured Claims who previously failed to fulfill informational requirements for distribution established in accordance with the GUC Trust Agreement, but subsequently fulfilled such information requirements. The distributions during the year ended March 31, 2019 consisted of distributions to holders of Allowed General Unsecured Claims who previously failed to fulfill information requirements for distribution established in accordance with the GUC Trust Agreement, but subsequently fulfilled such information requirements. The distributions during the year ended March 31, 2018 consisted of distributions to (a) holders of Allowed General Unsecured Claims who previously failed to fulfill informational requirements for distribution established in accordance with the GUC Trust Agreement, but subsequently fulfilled such information requirements and (b) holders of certain Resolved Term Loan Avoidance Action Claims. The obligation to distribute Distributable Cash to holders of GUC Trust Units for excess distributions payable at March 31, 2018 decreased from such balances at March 31, 2017, resulting in a net reversal of liquidating distributions of $6.9 million during the year ended March 31, 2018. The GUC Trust was obligated as of March 31, 2020 to distribute Distributable Cash of $2.4 million to certain holders of Allowed General Unsecured Claims who had not then satisfied certain informational requirements necessary to effect the distribution to which they are entitled.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements Accounting standards provide a framework for establishing the fair value of assets and liabilities presented in the financial statements. The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques used to measure fair value. The Trust’s Cash Equivalents, Marketable Securities, and Liquidating Distributions Payable are presented below as provided by this hierarchy. Level 1 Level 2 Level 3 In instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The GUC Trust’s assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability. The GUC Trust also holds other financial instruments not measured at fair value on a recurring basis, including Accounts Payable and Other Liabilities. The fair value of these liabilities approximates the carrying amounts in the accompanying financial statements due to the short maturity of such instruments. The following table presents information about the GUC Trust’s assets and liabilities presented at fair value as of March 31, 2020 and 2019, and the valuation techniques used by the GUC Trust to determine those fair values. March 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 40,413 $ — $ — 40,413 Marketable Securities: U.S. Treasury bills — 392,777 — 392,777 Total Assets $ 40,413 $ 392,777 $ — $ 433,190 Liabilities: Liquidating distributions payable $ 351,876 $ — $ — $ 351,876 March 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 34 $ — $ — $ 34 Marketable Securities: U.S. Treasury bills — 503,228 — 503,228 Total Assets $ 34 $ 503,228 $ — $ 503,262 Liabilities: Liquidating distributions payable $ 1,785 $ — $ — $ 1,785 The following are descriptions of the valuation methodologies used for assets and liabilities measured at fair value: • Due to their short-term liquid nature, the fair value of cash equivalents approximates carrying value. • Marketable securities consist of U.S. Treasury bills. Due to their short-term maturities, the fair value of U.S. Treasury bills approximates their carrying value (when receivables for associated interest income earned included in accrued investment income in the accompanying Statements of Net Assets in Liquidation are combined with the carrying value of such U.S. Treasury bills). • Liquidating distributions payable are valued at the amount of cash that the GUC Trust is obligated to distribute.

Reserves for Expected Costs of

Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs	12 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs	7. Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs The following is a summary of the activity in the reserves for expected costs of liquidation for the years ended March 31, 2020, 2019 and 2018: (in thousands) Reserve for Reserve for Reserve for Total Reserves Balance, March 31, 2017 $ 9,851 $ 8,827 $ 225 $ 18,903 Plus additions to reserves 25,351 8,597 — 33,948 Less liquidation costs incurred: Trust Professionals (7,424 ) (2,669 ) — (10,093 ) Trust Governance (2,523 ) (1,800 ) (81 ) (4,404 ) Other Administrative Expenses (51 ) (216 ) — (267 ) Balance, March 31, 2018 25,204 12,739 144 38,087 Plus additions to reserves 4,122 5,389 — 9,511 Less liquidation costs incurred: Trust Professionals (3,125 ) (2,113 ) — (5,238 ) Trust Governance (2,695 ) (1,801 ) (34 ) (4,530 ) Other Administrative Expenses (127 ) (218 ) — (345 ) Balance, March 31, 2019 23,379 13,996 110 37,485 Plus additions to (reductions in) reserves 5,059 (3,537 ) — 1,522 Less liquidation costs incurred: Trust Professionals (3,330 ) (2,303 ) — (5,633 ) Trust Governance (2,465 ) (1,800 ) (28 ) (4,293 ) Other Administrative Expenses (113 ) (256 ) — (369 ) Balance, March 31, 2020 $ 22,530 $ 6,100 $ 82 $ 28,712 During the year ended March 31, 2020, estimates of expected Wind-Down Costs (for which there is a reasonable basis for estimation) increased by $5.1 million and estimates of expected Reporting Costs (for which there is a reasonable basis for estimation) decreased by $3.5 million. During the year ended March 31, 2019, estimates of expected Wind-Down Costs and estimates of expected Reporting Costs (for which there is a reasonable basis for estimation) increased by $4.1 million and $5.4 million, respectively. During the year ended March 31, 2018, estimates of expected Wind-Down Costs and estimates of expected Reporting Costs increased by $25.4 million and $8.6 million, respectively. Such revisions in the estimates were recorded as additions to (reductions in) the reserves for expected costs of liquidation in such years. The GUC Trust has recorded reserves for expected costs of liquidation that represent amounts expected to be incurred over the estimated remaining liquidation period of the GUC Trust for which there was a reasonable basis for estimation. The amount of liquidation costs that will ultimately be incurred depends both on the time period and on the extent of activities required for the GUC Trust to complete its functions and responsibilities under the Plan and the GUC Trust Agreement. Significant uncertainty remains both as to that time period and as to the extent of those activities. As of March 31, 2020, the recorded reserves for expected costs of liquidation reflect estimated costs for a remaining liquidation period estimated to extend through July 31, 2021, which was reduced by twenty-seven months from the prior quarter. The remaining liquidation period has been estimated predominately on a modified probability-weighted basis as permitted under U.S. GAAP and which the GUC Trust believes is the most appropriate measurement basis under the circumstances. Where an outcome is estimated to be likely, the likely outcome has been used as the best estimate and no weight has been given to the unlikely outcome. In addition, consistent with the liquidation basis of accounting, no consideration has been given to potential outcomes to the extent there does not exist a reasonable basis for estimation. The remaining liquidation period is dependent predominantly on the estimate of the remaining period of time for resolution of litigation involving certain General Motors vehicle recalls described in Item 3 (“Legal Proceedings”). In addition, certain additional estimated time to wind down the GUC Trust following resolution of the litigation is included in the estimated liquidation period. Future developments in the General Motors vehicle recall litigation could extend the current estimate of such remaining period of time for resolution and, therefore, extend the estimated minimum remaining liquidation period of the GUC Trust beyond July 2021. In addition, certain liquidation costs that are expected to be prepaid by the GUC Trust upon its dissolution have also been estimated and accrued. The GUC Trust’s estimates regarding the costs and remaining liquidation period may change in the near term, and such change may be material. The following is a summary of the activity in the reserve for Residual Wind-Down Claims and Costs for the years ended March 31, 2020, 2019 and 2018: (in thousands) 2020 2019 2018 Balance, beginning of year $ 169 $ 169 $ 966 Plus addition to reserve 8 — 9 Plus reclassification of accrued liability — — 9 Less claims allowed during the period — — (815 ) Balance, end of year $ 177 $ 169 $ 169 Residual Wind-Down Claims allowed during the year ended March 31, 2018 primarily consist of Avoidance Action Defense Costs. As a result of the Term Loan Avoidance Action settlement described above and in Item 3 and by virtue of the terms of the associated settlement agreement, the GUC Trust is not responsible for payment of any further Avoidance Action Defense Costs.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes There was no current tax benefit or provision for the years ended March 31, 2020, 2019 and 2018 due to cumulative net operating and capital losses, and no income taxes have been paid by the GUC Trust. There also was no deferred tax benefit or provision for such years ended March 31, 2020, 2019 and 2018 as a result of the establishment of a full valuation allowance against net deferred tax assets as of the beginning and end of such periods. As a result of the enactment of the “Tax Cuts and Jobs Act” in December 2017, the GUC Trust’s federal income tax rate was reduced from 39.6% to 37% effective April 1, 2018, the first day of the GUC Trust’s fiscal year ended March 31, 2019. In December 2017, the GUC Trust expected that the 37% tax rate would be in effect when its temporary differences reversed and, accordingly, the GUC Trust’s deferred tax assets and liabilities were adjusted to the enacted 37% tax rate as of December 31, 2017. There was no impact on the deferred tax provision as the result of the establishment of a full valuation allowance against net deferred tax assets at December 31, 2017. Deferred taxes in the accompanying Statement of Net Assets in Liquidation as of March 31, 2020 and 2019 are comprised of the following components: (in thousands) 2020 2019 Deferred tax assets: Reserves for expected costs of liquidation and Residual Wind-Down Claims and Costs $ 6,989 $ 13,932 Net operating and capital loss carryovers 52,007 52,150 Gross deferred tax assets 58,996 66,082 Less: Valuation allowance (58,701 ) (54,740 ) Deferred tax asset, net of valuation allowance 295 11,342 Deferred tax liabilities: Accrued investment income (295 ) (11,342 ) Gross deferred tax liabilities (295 ) (11,342 ) Net deferred taxes $ — $ — As previously disclosed, during the quarter ended September 30, 2013, the GUC Trust made a determination to file its U.S. federal income tax returns taking the position that beneficial ownership for a substantial majority of New GM Securities was transferred from MLC to the GUC Trust on March 31, 2011, and that the tax basis of such New GM Securities should be determined with reference to the value of such securities on such date, instead of December 15, 2011, when record ownership of the remaining New GM Securities still held by MLC was transferred from MLC to the GUC Trust. For the remaining substantial minority of New GM Securities transferred from MLC to the GUC Trust, the GUC Trust determined that the transfer of beneficial ownership occurred on other dates for which the tax basis should be determined by reference to the value of such securities on such dates. This new tax position resulted in an increased tax basis of the New GM Securities from the prior tax position and, therefore, reduced taxable gains and increased taxable losses on distributions and sales of New GM Securities since March 31, 2011. The new tax position has not been sustained on examination by the IRS as of the date hereof. However, the GUC Trust believes, based on the available evidence and consultation with GUC Trust Professionals, that it is more likely than not that the new tax position will be sustained on examination by the IRS based on the technical merits of the position. Accordingly, this new tax position has been recognized in the current and deferred income tax liabilities and the income tax provision in the GUC Trust’s financial statements since the quarter ended September 30, 2013. Following the GUC Trust’s determination to utilize the new tax position set forth above, the GUC Trust filed its U.S. federal income tax returns for the years ended March 31, 2013, and thereafter, with the IRS using such new tax position. Such tax returns were accompanied by requests for prompt determination of tax liability pursuant to Section 505(b) of the Bankruptcy Code, and the 60-day Remaining net operating loss carryovers generated through March 31, 2020, aggregating $140.6 million, could be subject to examination by the IRS in subsequent years when those losses, if any, are utilized. The GUC Trust does not expect to utilize (on a net basis) any net operating loss carryovers in the future. All capital loss carryovers have expired as of March 31, 2020. The net operating loss carryovers begin to expire on March 31, 2032. However, pursuant to the enactment of the “Tax Cuts and Jobs Act” in December 2017, net operating losses generated by the GUC Trust in tax years beginning April 1, 2018, do not expire. These loss carryovers in the aggregate result in a deferred tax asset of $52.0 million at March 31, 2020 (reflected in the table above). As described in “Critical Accounting Policies and Estimates—Income Taxes” in Item 7 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”), the GUC Trust’s loss carryovers (including those no longer available for utilization by the GUC Trust) potentially could succeed to Claimants (as defined above pursuant to tax rules). Reference is made thereto for further information regarding such potential distributable loss carryovers and the material uncertainties associated therewith. A full valuation allowance against net deferred tax assets aggregating $58.7 million and $54.7 million was established as of March 31, 2020 and 2019, respectively, because, as a result of the liquidation of all of the GUC Trust’s holdings of New GM Securities, it has been determined that such deferred tax assets are not realizable. The valuation allowance increased by $4.0 million and decreased by $5.4 million during the years ended March 31, 2020 and 2019, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions In addition to serving as GUC Trust Administrator, Wilmington Trust Company continues to serve as trustee pursuant to the indentures for certain series of previously outstanding debt of MLC. Wilmington Trust Company has received and may in the future receive certain customary fees in amounts consistent with Wilmington Trust Company’s standard rates for such service. The Bankruptcy Court previously approved the creation of a segregated fund for the purposes of funding such fees for Wilmington Trust Company, as well as the other indenture trustees and fiscal and paying agents for previously outstanding debt of MLC. There were no such fees for Wilmington Trust Company in the years ended March 31, 2020, 2019 and 2018. In addition, Wilmington Trust Company has also entered into certain arrangements with the GUC Trust pursuant to which it or its affiliates have previously received, and may in the future receive, reasonable and customary fees and commissions for services other than services in the capacity of GUC Trust Administrator. Such arrangements include the provision of custodial, investment advisory and brokerage services to the GUC Trust. During each of the years ended March 31, 2020, 2019 and 2018, the total amount of such fees and commissions was approximately $0.2 million, $0.3 million and $0.3 million, respectively. In addition to serving as GUC Trust Monitor, during the year ended March 31, 2019, FTI Consulting, Inc. provided professional services associated with review of certain expert reports in connection with litigation involving certain General Motors vehicle recalls. Fees and expenses for such services aggregated approximately $0.2 million.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2020
Liquidation Basis of Accounting	Liquidation Basis of Accounting The GUC Trust exists solely for the purposes described above in Note 1 and has a finite life. Accordingly, the GUC Trust has prepared the accompanying financial statements on the liquidation basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under the liquidation basis of accounting, assets are stated at their estimated realizable value, which is the non-discounted The GUC Trust beneficiaries are holders of Allowed General Unsecured Claims (to the extent their liquidating distributions have not yet been paid to them) and holders of GUC Trust Units. As Disputed General Unsecured Claims and Term Loan Avoidance Action Claims were resolved and allowed and thereby became Allowed General Unsecured Claims, the holders thereof became entitled to receive liquidating distributions of Distributable Cash (including Dividend Cash) and GUC Trust Units pro rata by the amount of such claims. Upon such occurrence, the GUC Trust incurred an obligation to distribute Distributable Cash and, accordingly, liquidating distributions payable were recorded in the amount of Distributable Cash (previously the fair value of New GM Securities) that the GUC Trust was obligated to distribute as of the end of the period in which the Disputed General Unsecured Claims and Term Loan Avoidance Action Claims were resolved as Allowed General Unsecured Claims. Prior to the resolution and allowance of Disputed General Unsecured Claims and Term Loan Avoidance Action Claims, liabilities were not recorded for the conditional obligations associated with Disputed General Unsecured Claims and Term Loan Avoidance Action Claims. Rather, the beneficial interests of GUC Trust beneficiaries in the residual assets of the GUC Trust were reflected in Net Assets in Liquidation of the GUC Trust in the financial statements. Under the liquidation basis of accounting, the GUC Trust presents two principal financial statements: a Statement of Net Assets in Liquidation and a Statement of Changes in Net Assets in Liquidation. In addition, although not required under the liquidation basis of accounting, the GUC Trust also presents a Statement of Cash Flows, in accordance with the requirements of the GUC Trust Agreement.
Fiscal Year	Fiscal Year The GUC Trust’s fiscal year begins on April 1 and ends on the following March 31.
Cash Equivalents, Marketable Securities and Accrued Investment Income on Cash Equivalents and Marketable Securities	Cash Equivalents, Marketable Securities and Accrued Investment Income on Cash Equivalents and Marketable Securities Cash equivalents consist of balances held in money market funds. Marketable securities consist of short-term investments in U.S. Treasury bills. The GUC Trust has valued these securities at fair value based on carrying value, which approximates fair value (when receivables for associated interest income earned included in accrued investment income in the accompanying Statements of Net Assets in Liquidation are combined with the carrying value of such U.S. Treasury bills). Estimated investment income expected to be received on holdings of marketable securities and cash equivalents is accrued under the liquidation basis of accounting to the extent that a reasonable basis for estimation exists. Such accrual is estimated principally based on forecasted cash outflows and expected returns based on recent yields (or expected yields resulting from recent changes in the federal funds rate) on U.S. Treasury bills in which the marketable securities are invested. Modifications are made to the accrual when yields on holdings of U.S. Treasury bills as of the date of the financial statement significantly differ from more recent yields. Estimates of forecasted cash outflows consider the amount and timing of distributions with respect of GUC Trust Units. Such estimates may change in the near term, and such change may be material.
Dividends on New GM Common Stock	Dividends on New GM Common Stock Dividends previously received on New GM Common Stock previously held by the GUC Trust are required to be applied to the same purpose as the New GM Common Stock to which such dividends relate. If the portion of Distributable Cash applicable to the liquidated New GM Common Stock is distributed to holders of subsequently Resolved Allowed Claims and GUC Trust Units, then the dividends relating to such Distributable Cash will also be distributed to such holders. If, however, Distributable Cash is appropriated by the GUC Trust in accordance with the GUC Trust Agreement to fund the costs and liabilities of the GUC Trust, then, in that case, the dividends relating to such appropriated Distributable Cash will be applied to such costs and liabilities of the GUC Trust and (just like the appropriated Distributable Cash) will be maintained in Other Administrative Cash. Because such dividends are applied to the same purpose as the associated Distributable Cash, any references to Distributable Cash should be understood to include the dividends relating to such Distributable Cash, unless expressly indicated otherwise. The amount of cash and cash equivalents and marketable securities held by the GUC Trust that relates to dividends received by the GUC Trust on New GM Common Stock previously held by the GUC Trust is referred to as Dividend Cash and is included in the amount of cash and cash equivalents and marketable securities held for distribution to GUC Trust beneficiaries that is referred to as Distributable Cash (except to the extent of dividends relating to appropriated Distributable Cash that is classified as Other Administrative Cash following such appropriation).
Accounts Payable and Other Liabilities	Accounts Payable and Other Liabilities Accounts payable and other liabilities represent amounts due to professionals, other service providers, and vendors for services rendered or goods received through the end of the period.
Contingent Settlement Obligation	Contingent Settlement Obligation The GUC Trust accrues for loss contingencies when it is probable that a liability has been incurred as of the date of the financial statements and the amount of such liability can be reasonably estimated. In assessing whether a liability has been incurred as of the date of the financial statements, the GUC Trust considers events occurring after the date of the financial statements that provide additional evidence with respect to conditions that existed as of the date of the financial statements, including the estimates inherent in the process of preparing financial statements. Accordingly, during the quarter ended March 31, 2020, the GUC Trust accrued a contingent settlement obligation pursuant to the Amended Settlement Agreement described in Item 3 (“Legal Proceedings”). During the quarter ended March 31, 2018, the GUC Trust accrued a contingent settlement obligation pursuant to a previously executed settlement agreement. As a result of developments in the related litigation, such accrual was reversed in the quarter ended September 30, 2018, due to uncertainties then associated with the effectiveness of such settlement agreement in effect at that time. Estimates regarding incurrence of the contingent settlement obligation may change in the near term, and such change may be material.
Reserves for Residual Wind-Down Claims and Costs	Reserves for Residual Wind-Down Claims and Costs Upon the dissolution of MLC, which occurred on December 15, 2011, the GUC Trust became responsible for resolving and satisfying (to the extent allowed) all remaining Residual Wind-Down Claims. On the date of dissolution of the Debtors, the Debtors transferred to the GUC Trust Residual Wind-Down Assets in an amount necessary to satisfy the ultimate allowed amount of such Residual Wind-Down Claims (including certain Avoidance Action Defense Costs) and the Residual Wind-Down Costs, as estimated by the Debtors. A corresponding amount was recorded in the reserves for Residual Wind-Down Claims and Costs. Should the Residual Wind-Down Claims and the Residual Wind-Down Costs be less than the Residual Wind-Down Assets, any excess funds will be returned to the DIP Lenders. While not expected, if, collectively, the actual amounts of Residual Wind-Down Claims (including certain Avoidance Action Defense Costs) allowed and the Residual Wind-Down Costs exceed the Residual Wind-Down Assets, the GUC Trust Administrator may be required to set aside from distribution and appropriate Distributable Cash to fund the shortfall. Any such appropriation would reduce the amount of Distributable Cash (including Dividend Cash) available for distribution to holders of GUC Trust Units.
Reserves for Expected Costs of Liquidation	Reserves for Expected Costs of Liquidation Under the liquidation basis of accounting, the GUC Trust is required to estimate and accrue the costs associated with implementing the Plan and distributing the GUC Trust’s distributable assets. These costs, described as Wind-Down Costs and Reporting Costs in Note 2, consist principally of professional fees, costs of governance, and other administrative expenses. These amounts may vary significantly due to, among other things, the time and effort required to complete all activities and distributions under the Plan. The GUC Trust has recorded reserves for expected costs of liquidation that represent estimated costs to be incurred over the remaining liquidation period of the GUC Trust for which there is a reasonable basis for estimation. The amount of liquidation costs that will ultimately be incurred depends both on the period of time and on the extent of activities required for the GUC Trust to complete its functions and responsibilities under the Plan and the GUC Trust Agreement. Significant uncertainty remains both as to that time period and as to the extent of those activities. As a result, estimates for the expected costs of liquidation may change in the near term, and such change could be material. As of March 31, 2020, such remaining liquidation period is estimated to extend through July 2021 and has been estimated predominantly on a modified probability-weighted basis, which the GUC Trust believes is the most appropriate measurement basis under the circumstances. Where an outcome is estimated to be likely, the likely outcome has been used as the best estimate and no weight has been given to the unlikely outcome. In addition, consistent with the liquidation basis of accounting, no consideration has been given to potential outcomes to the extent there does not exist a reasonable basis for estimation. The remaining liquidation period is dependent predominantly on the estimate of the remaining period of time for resolution of litigation involving certain General Motors vehicle recalls described in Item 3 (“Legal Proceedings”). In addition, certain additional estimated time to wind down the GUC Trust following resolution of the litigation is included in the estimated liquidation period. Future developments in the General Motors vehicle recall litigation could extend the current estimate of such minimum remaining period of time for resolution and, therefore, extend the estimated minimum remaining liquidation period of the GUC Trust beyond July 2021. In addition, certain liquidation costs that are expected to be prepaid by the GUC Trust upon its dissolution have also been estimated and accrued. The GUC Trust’s estimates regarding the costs and remaining liq uidation period may change in the near term, and such change may be ma terial. As the GUC Trust incurs liquidation costs, the reserves are released to offset the costs incurred and a liability to the service provider is recognized as an accounts payable or accrued liability until paid. In addition, because the GUC Trust only records reserves for expected costs for which there is a reasonable basis for estimation under applicable U.S. GAAP, additional costs may be identified from time to time for which additional reserves must be recorded. As such costs are identified, the GUC Trust records an increase to its reserves and charges such increase as an addition to such reserves in the Statement of Changes in Net Assets in Liquidation. The process of recording reserves for expected costs of liquidation as a matter of financial reporting is separate and distinct from the process by which Distributable Cash is set aside from distribution for the purposes of funding projected costs of liquidation. Such projected costs are generally estimated on a more conservative (i.e., more inclusive) basis and include contingencies that are not permitted to be accrued in reserves for expected costs of liquidation under applicable U.S. GAAP. For a more complete description of the process of setting aside Distributable Cash to fund projected costs and potential liabilities of the GUC Trust, see Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Net Assets in Liquidation” under the heading “—Distributable Cash Set Aside from Distribution” above.
Income Taxes	Income Taxes The GUC Trust is considered to be a Disputed Ownership Fund pursuant to Treasury Regulation Section 1.468B-9. Section 1.468B-9(c)(1)(ii). The GUC Trust generates gross income in the form of interest and dividend income (including dividends received on its previous holdings of New GM Common Stock) and recognizes capital gains and/or losses upon its disposition of New GM Securities, which are reduced by administrative expenses and accumulated net operating and capital losses, to compute modified gross income. As the GUC Trust is taxable for federal income tax purposes, a current income tax liability or asset, if any, is recognized for estimated taxes payable or receivable. Deferred tax liabilities and assets are recognized for the estimated future tax effects of temporary differences between financial reporting and tax accounting. Deferred tax assets are reviewed for recoverability and valuation allowances are provided as necessary. The GUC Trust is not subject to state income taxes under current law. Accordingly, no current or deferred state income tax liabilities and assets are recorded. The process of recognizing deferred tax assets and liabilities and any current income taxes payable as a matter of financial reporting is separate and distinct from the process by which any Distributable Cash is set aside from distribution for the purposes of funding potential income tax liabilities. Any such potential income tax liabilities are generally estimated on a more conservative (i.e., more inclusive) basis and may include amounts of potential income tax liabilities beyond the amounts that are permitted to be recorded under applicable accounting standards. For a more complete description of the process of setting aside Distributable Cash to fund projected costs and potential income tax liabilities of the GUC Trust, see Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Net Assets in Liquidation” under the heading “—Distributable Cash Set Aside from Distribution” above. The GUC Trust recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authority, based on the technical merits of the position, review of available evidence and consultation with GUC Trust Professionals. The GUC Trust’s tax liability with respect to its federal income tax returns for the year ended March 31, 2019 and all prior years are no longer subject to examination as a result of the application of Section 505(b) of the Bankruptcy Code. However, remaining net operating loss carryovers generated through March 31, 2020 aggregating $140.6 million, could be subject to examination by the IRS in subsequent years if those losses are utilized. It is not expected that such losses will be utilized (on a net basis) in the future. As of March 31, 2020, there are no known items which would result in a significant accrual for uncertain tax positions.
Use of Estimates	Use of Estimates The preparation of financial statements on the liquidation basis in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities. These estimates are subject to known and unknown risks, uncertainties and other factors that could materially impact the amounts reported and disclosed in the financial statements and related footnotes. Significant estimates include estimated investment income expected to be received, expected liquidation costs, incurrence of the contingent settlement obligation and fair value of marketable securities. Actual results could differ from those estimates.
Recent Accounting Standards	Recent Accounting Standards Changes to U.S. GAAP are made by the FASB in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The GUC Trust considers the applicability and impact of all ASUs. ASUs not noted herein were assessed and determined to be not applicable.

Net Assets in Liquidation (Tabl

Net Assets in Liquidation (Tables)	12 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Schedule of Cash and Cash Equivalent and Marketable Securities	As of March 31, 2020 and 2019, cash and cash equivalents and marketable securities aggregated $435.6 million and $505.1 million, respectively, and are comprised of the following: (in thousands) 2020 2019 Distributable Cash (including associated Dividend Cash) $ 393,431 $ 472,070 Other Administrative Cash 40,767 31,445 Administrative Fund 1,161 1,246 Residual Wind-Down Assets 178 175 Funds for Indenture Trustee / Fiscal Paying Agent Costs 90 117 Total 435,627 $ 505,053
Schedule of GUC Trust Units	The following table presents the changes during the years ended March 31, 2020, 2019 and 2018 in the numbers of GUC Trust Units outstanding or which the GUC Trust was obligated to issue: Year Ended Year Ended Year Ended Outstanding or issuable as of beginning of year 31,855,504 31,855,504 31,854,103 Issued during the year 230,997 — 1,448 Less: Issuable as of beginning of year — — (47 ) Add: Issuable as of end of year — — — Outstanding as of end of year (1) (2) 32,086,501 31,855,504 31,855,504 (1) The number of GUC Trust Units outstanding at any time represents GUC Trust Units issued in respect of Allowed General Unsecured Claims that were allowed in prior periods, including GUC Trust Units held by the GUC Trust for the benefit of (a) holders of Allowed General Unsecured Claims who had not yet supplied information required by the GUC Trust in order to effect the initial distribution to which they are entitled and (b) governmental entities that are precluded by applicable law from receiving distributions of GUC Trust Units. (2) The number of GUC Trust Units outstanding as of end of year does not equal the amount of Allowed General Unsecured Claims on a 1 to 1,000 basis as of the corresponding date because of additional GUC Trust Units that were issued due to rounding.
Allowed and Disputed General Unsecured Claims and Potential Term Loan Avoidance Action Claims	The following table presents a summary of activity with respect to Allowed and Disputed General Unsecured Claims and Term Loan Avoidance Action Claims for the years ended March 31, 2020 and 2019: (in thousands) Allowed General Disputed General Term Loan Maximum Total Claim Total, March 31, 2018 $ 31,855,432 $ 50,000 $ 1,494,986 $ 1,544,986 $ 33,400,418 New Allowed General Unsecured Claims — — — — — Disputed General Unsecured Claims resolved or disallowed — — — — — Term Loan Avoidance Action Claims resolved or disallowed — — (143 ) (143 ) (143 ) Total, March 31, 2019 31,855,432 50,000 1,494,843 1,544,843 33,400,275 New Allowed General Unsecured Claims 231,000 — — — 231,000 Disputed General Unsecured Claims resolved or disallowed — (50,000 ) — (50,000 ) (50,000 ) Term Loan Avoidance Action Claims resolved or disallowed — — (1,494,843 ) (1,494,843 ) (1,494,843 ) Total, March 31, 2020 $ 32,086,432 $ — $ — $ — $ 32,086,432 (1) Remaining Disputed General Unsecured Claims as of March 31, 2019 and 2018 represented a general claim contingency for any future disputed claims or other obligations of the GUC Trust. During the year ended March 31, 2020, the GUC Trust released such general claim contingency because it was deemed no longer necessary. (2) Maximum Amount of Unresolved Claims represents the sum of Disputed General Unsecured Claims and Term Loan Avoidance Action Claims. (3) Total Claim Amount represents the sum of Allowed General Unsecured Claims and Maximum Amount of Unresolved Claims.

Liquidating Distributions (Tabl

Liquidating Distributions (Tables)	12 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Schedule of Liquidating Distributions	Liquidating distributions (net reversal of liquidating distributions) in the years ended March 31, 2020, 2019 and 2018 consisted of the following: (in thousands) 2020 2019 2018 Distributions during the year $ 67,818 $ 40 $ 433 Less: Liquidating distributions payable as of beginning of year (1,785 ) (1,825 ) (9,205 ) Add: Liquidating distributions payable as of end of year 351,876 1,785 1,825 Total (net reversal) $ 417,909 $ — $ (6,947 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents information about the GUC Trust’s assets and liabilities presented at fair value as of March 31, 2020 and 2019, and the valuation techniques used by the GUC Trust to determine those fair values. March 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 40,413 $ — $ — 40,413 Marketable Securities: U.S. Treasury bills — 392,777 — 392,777 Total Assets $ 40,413 $ 392,777 $ — $ 433,190 Liabilities: Liquidating distributions payable $ 351,876 $ — $ — $ 351,876 March 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 34 $ — $ — $ 34 Marketable Securities: U.S. Treasury bills — 503,228 — 503,228 Total Assets $ 34 $ 503,228 $ — $ 503,262 Liabilities: Liquidating distributions payable $ 1,785 $ — $ — $ 1,785

Reserves for Expected Costs o_2

Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs (Tables)	12 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Summary of Activity in Reserves for Expected Costs of Liquidation	The following is a summary of the activity in the reserves for expected costs of liquidation for the years ended March 31, 2020, 2019 and 2018: (in thousands) Reserve for Reserve for Reserve for Total Reserves Balance, March 31, 2017 $ 9,851 $ 8,827 $ 225 $ 18,903 Plus additions to reserves 25,351 8,597 — 33,948 Less liquidation costs incurred: Trust Professionals (7,424 ) (2,669 ) — (10,093 ) Trust Governance (2,523 ) (1,800 ) (81 ) (4,404 ) Other Administrative Expenses (51 ) (216 ) — (267 ) Balance, March 31, 2018 25,204 12,739 144 38,087 Plus additions to reserves 4,122 5,389 — 9,511 Less liquidation costs incurred: Trust Professionals (3,125 ) (2,113 ) — (5,238 ) Trust Governance (2,695 ) (1,801 ) (34 ) (4,530 ) Other Administrative Expenses (127 ) (218 ) — (345 ) Balance, March 31, 2019 23,379 13,996 110 37,485 Plus additions to (reductions in) reserves 5,059 (3,537 ) — 1,522 Less liquidation costs incurred: Trust Professionals (3,330 ) (2,303 ) — (5,633 ) Trust Governance (2,465 ) (1,800 ) (28 ) (4,293 ) Other Administrative Expenses (113 ) (256 ) — (369 ) Balance, March 31, 2020 $ 22,530 $ 6,100 $ 82 $ 28,712
Summary of Activity in Reserves for Residual Wind-Down Claims and Costs	The following is a summary of the activity in the reserve for Residual Wind-Down Claims and Costs for the years ended March 31, 2020, 2019 and 2018: (in thousands) 2020 2019 2018 Balance, beginning of year $ 169 $ 169 $ 966 Plus addition to reserve 8 — 9 Plus reclassification of accrued liability — — 9 Less claims allowed during the period — — (815 ) Balance, end of year $ 177 $ 169 $ 169

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Summary of Deferred Taxes	Deferred taxes in the accompanying Statement of Net Assets in Liquidation as of March 31, 2020 and 2019 are comprised of the following components: (in thousands) 2020 2019 Deferred tax assets: Reserves for expected costs of liquidation and Residual Wind-Down Claims and Costs $ 6,989 $ 13,932 Net operating and capital loss carryovers 52,007 52,150 Gross deferred tax assets 58,996 66,082 Less: Valuation allowance (58,701 ) (54,740 ) Deferred tax asset, net of valuation allowance 295 11,342 Deferred tax liabilities: Accrued investment income (295 ) (11,342 ) Gross deferred tax liabilities (295 ) (11,342 ) Net deferred taxes $ — $ —

Purpose of Trust - Additional I

Purpose of Trust - Additional Information (Detail) - New GM Common Stock [Member] - USD ($) $ / shares in Units, $ in Millions	Aug. 05, 2015	Jul. 07, 2015
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Number of converted New GM Series A Warrants		10,352,556
Number of shares of New GM Common Stock received in conversion of New GM Series A Warrants		7,407,155
Number of converted New GM Series B Warrants		10,352,556
Number of shares of New GM Common Stock received in conversion of New GM Series B Warrants		4,953,635
Net proceeds from the liquidation of New GM Securities	$ 741.7
Conversion rate for New GM Series A Warrants into New GM Common Stock		0.71549%
Conversion rate for New GM Series B Warrants into New GM Common Stock		0.47849%
Net weighted average sales price, net of expenses, for New GM Common Stock sold after June 30, 2015	$ 31.23

Plan of Liquidation - Additiona

Plan of Liquidation - Additional Information (Detail) - USD ($)	Mar. 27, 2020	Mar. 31, 2020	Aug. 05, 2015	Jul. 01, 2019	Mar. 31, 2019	Mar. 31, 2012	Dec. 15, 2011	Mar. 31, 2011
Class of Warrant or Right [Line Items]
Allowed General Unsecured Claims								$ 29,771,000,000
Disputed General Unsecured Claims								8,154,000,000
Total aggregate amount of general unsecured claims, both allowed and disputed inclusive of potential Term Loan Avoidance Action Claims								39,425,000,000
Amount of Term Loan Avoidance Action								1,500,000,000
Dividends received			$ 24,700,000
Contribution from MLC								52,700,000
Initial Reporting Cash								$ 5,700,000
Appropriated Distributable Cash		$ 58,800,000
Motion for Appropriation of Distributable Cash	$ 50,000,000
Distributable Cash set aside for projected Trust fees, costs and expenses		41,500,000
Residual Wind-Down Assets		200,000					$ 42,800,000
Cash received to fund Avoidance Action Defense Costs							1,400,000
Residual wind-down assets transferred benefit in prepaid expenses							2,800,000
Avoidance action defense costs in excess of corresponding cash		30,200,000
Funds for Indenture Trustee/Fiscal Paying Agent Costs		100,000
Cash received for indenture trustee and paying agent costs							1,400,000
Cash received for funding Indenture Trustee Fiscal and Paying Agent Costs and Reporting Costs							3,400,000
Cash received for reporting cash							2,000,000
Distributions payable for new allowed general unsecured claims		68,500,000		$ 68,500,000
Recoveries by the avoidance action trust and corresponding new allowed general unsecured claims		231,000,000		$ 231,000,000
Avoidance ActionTrust [Member]
Class of Warrant or Right [Line Items]
Resolved Term Loan Avoidance Action Claims distributions paid		67,800,000
New GM Securities [Member]
Class of Warrant or Right [Line Items]
Aggregate sales of new GM Securities to fund costs and expenses			61,700,000
Aggregate dividend cash associated with sales of New GM Securities to fund costs			$ 200,000
Cash and Cash Equivalents and Marketable Securities [Member]
Class of Warrant or Right [Line Items]
Remaining Administrative Fund aggregated		1,161,000			$ 1,246,000
Aggregate Other Administrative Cash		40,767,000			31,445,000
Residual Wind-Down Assets		178,000			175,000		$ 40,000,000
Funds for Indenture Trustee/Fiscal Paying Agent Costs		$ 90,000			$ 117,000
New GM Series A Warrants [Member]
Class of Warrant or Right [Line Items]
Distributable assets number of securities called by warrants								136,363,635
Exercise price per share								$ 10
Warrants expiration date		Jul. 10, 2016
Number of securities sold to fund costs and expenses			948,887
New GM Series B Warrants [Member]
Class of Warrant or Right [Line Items]
Distributable assets number of securities called by warrants								136,363,635
Exercise price per share								$ 18.33
Warrants expiration date		Jul. 10, 2019
Number of securities sold to fund costs and expenses			948,887
New GM Common Stock [Member]
Class of Warrant or Right [Line Items]
Distributable assets number of securities								150,000,000
Securities authorized for sale						$ 13,700,000
Number of securities sold to fund costs and expenses			1,043,801

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Mar. 31, 2020USD ($)
Liquidation Date, Expected to Complete	Jul. 31, 2021
Operating Loss Carryforwards	$ 140.6

Net Assets in Liquidation - Add

Net Assets in Liquidation - Additional Information (Detail) - USD ($)	Mar. 27, 2020	Mar. 31, 2011	Mar. 31, 2020	May 31, 2020	Jul. 01, 2019	Mar. 31, 2019
Net Assets in Liquidation [Line Items]
Distributable Assets			$ 349,400,000
Cash and cash equivalents and marketable securities			435,600,000			$ 505,100,000
Liquidating distributions payable			351,876,000			1,785,000
Distributable Cash set aside for projected Trust fees, costs and expenses			41,500,000
Distributable cash pending distribution or set aside and not available for distribution			44,000,000
Change in Future Investment Income			29,500,000
Amount required to issue one Trust Unit per contingent rights		$ 1,000
Settlement payment obligation			50,000,000
Distributions payable for new allowed general unsecured claims			68,500,000		$ 68,500,000
Recoveries by the avoidance action trust and corresponding new allowed general unsecured claims			231,000,000		$ 231,000,000
Loss Contingency Accrual, Payments			48,000,000
Noticing costs			2,000,000
Motion for Appropriation of Distributable Cash	$ 50,000,000
GUC Trust Units [Member]
Net Assets in Liquidation [Line Items]
Liquidating distributions payable			351,900,000
Liquidating distributions payable to Guc unit holders			349,400,000
Expected Distribution				$ 300,000,000
Accrued Future Investment Income			800,000			$ 30,300,000
Avoidance Action Trust [Member]
Net Assets in Liquidation [Line Items]
Resolved Term Loan Avoidance Action Claims distributions paid			$ 67,800,000

Net Assets in Liquidation - Sch

Net Assets in Liquidation - Schedule of Cash and Cash Equivalent and Marketable Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Dec. 15, 2011
Cash and Cash Equivalents [Line Items]
Residual Wind-Down Assets	$ 200		$ 42,800
Funds for Indenture Trustee / Fiscal Paying Agent Costs	100
Total	435,600	$ 505,100
Cash and Cash Equivalents and Marketable Securities [Member]
Cash and Cash Equivalents [Line Items]
Distributable Cash (including associated Dividend Cash)	393,431	472,070
Other Administrative Cash	40,767	31,445
Administrative Fund	1,161	1,246
Residual Wind-Down Assets	178	175	$ 40,000
Funds for Indenture Trustee / Fiscal Paying Agent Costs	90	117
Total	$ 435,627	$ 505,053

Net Assets in Liquidation - S_2

Net Assets in Liquidation - Schedule of GUC Trust Units (Detail) - Trust	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Outstanding or issuable as of beginning of year	31,855,504	31,855,504	31,854,103
Issued during the year	230,997	0	1,448
Less: Issuable as of beginning of year	0	0	(47)
Add: Issuable as of end of year	0	0	0
Outstanding as of end of year	32,086,501	31,855,504	31,855,504

Net Assets in Liquidation - S_3

Net Assets in Liquidation - Schedule of GUC Trust Units (Parenthetical) (Detail)	Mar. 31, 2011USD ($)Unit	Mar. 31, 2020
Units Outstanding Or Issuable Description		The number of GUC Trust Units outstanding as of end of year does not equal the amount of Allowed General Unsecured Claims on a 1 to 1,000 basis as of the corresponding date because of additional GUC Trust Units that were issued due to rounding.
Number Of Trust Units Issued Per Thousand Dollars Of Allowed General Unsecured Claims | Unit	1
Amount Of Allowed General Unsecured Claims For Issuance Of One Trust Unit | $	$ 1,000

Net Assets in Liquidation - All

Net Assets in Liquidation - Allowed and Disputed General Unsecured Claims and Potential Term Loan Avoidance Action Claims (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Loss Contingencies [Line Items]
Beginning balance	$ 33,400,275	$ 33,400,418
New Allowed General Unsecured Claims	231,000	0
Disputed General Unsecured Claims resolved or disallowed	(50,000)	0
Term Loan Avoidance Action Claims resolved or disallowed	(1,494,843)	(143)
Ending balance	32,086,432	33,400,275
Allowed General Unsecured Claims [Member]
Loss Contingencies [Line Items]
Beginning balance	31,855,432	31,855,432
New Allowed General Unsecured Claims	231,000	0
Disputed General Unsecured Claims resolved or disallowed	0	0
Term Loan Avoidance Action Claims resolved or disallowed	0	0
Ending balance	32,086,432	31,855,432
Disputed General Unsecured Claims [Member]
Loss Contingencies [Line Items]
Beginning balance	50,000	50,000
New Allowed General Unsecured Claims	0	0
Disputed General Unsecured Claims resolved or disallowed	(50,000)	0
Term Loan Avoidance Action Claims resolved or disallowed	0	0
Ending balance	0	50,000
Term Loan Avoidance Action Claims [Member]
Loss Contingencies [Line Items]
Beginning balance	1,494,843	1,494,986
New Allowed General Unsecured Claims	0	0
Disputed General Unsecured Claims resolved or disallowed	0	0
Term Loan Avoidance Action Claims resolved or disallowed	(1,494,843)	(143)
Ending balance	0	1,494,843
Maximum Amount of Unresolved Claims [Member]
Loss Contingencies [Line Items]
Beginning balance	1,544,843	1,544,986
New Allowed General Unsecured Claims	0	0
Disputed General Unsecured Claims resolved or disallowed	(50,000)	0
Term Loan Avoidance Action Claims resolved or disallowed	(1,494,843)	(143)
Ending balance	$ 0	$ 1,544,843

Liquidating Distributions - Add

Liquidating Distributions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Distribution Made to Limited Partner [Line Items]
Cash distributions payable	$ 2,400
Liquidation Basis of Accounting [Member]
Distribution Made to Limited Partner [Line Items]
(Net reversal of liquidating distribution) liquidating distributions	$ 417,909	$ 0	$ (6,947)

Liquidating Distributions - Sch

Liquidating Distributions - Schedule of Liquidating Distributions (Detail) - Liquidation Basis of Accounting [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Distributions during the year	$ 67,818	$ 40	$ 433
Less: Liquidating distributions payable as of beginning of year	(1,785)	(1,825)	(9,205)
Add: Liquidating distributions payable as of end of year	351,876	1,785	1,825
Total (net reversal)	$ 417,909	$ 0	$ (6,947)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured	$ 0	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Liabilities:
Liquidating distributions payable	$ 351,876	$ 1,785
Fair Value, Measurements, Recurring [Member]
Assets:
Total Assets	433,190	503,262
Liabilities:
Liquidating distributions payable	351,876	1,785
Fair Value, Measurements, Recurring [Member] | Cash Equivalents [Member] | Money Market Funds [Member]
Assets:
Total Assets	40,413	34
Fair Value, Measurements, Recurring [Member] | Marketable Securities [Member] | U.S. Treasury Bills [Member]
Assets:
Total Assets	392,777	503,228
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets:
Total Assets	40,413	34
Liabilities:
Liquidating distributions payable	351,876	1,785
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Cash Equivalents [Member] | Money Market Funds [Member]
Assets:
Total Assets	40,413	34
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets:
Total Assets	392,777	503,228
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Marketable Securities [Member] | U.S. Treasury Bills [Member]
Assets:
Total Assets	$ 392,777	$ 503,228

Reserves for Expected Costs o_3

Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Net increase (decrease in) additions to reserves for Expected Costs of Liquidation	$ 1,522	$ 9,511	$ 33,948
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected liquidation end date	Jul. 31, 2021
Reserve for Expected Wind-Down Costs [Member]
Restructuring Cost and Reserve [Line Items]
Net increase (decrease in) additions to reserves for Expected Costs of Liquidation	$ 5,059	4,122	25,351
Reserve for Expected Reporting Costs [Member]
Restructuring Cost and Reserve [Line Items]
Net increase (decrease in) additions to reserves for Expected Costs of Liquidation	$ (3,537)	$ 5,389	$ 8,597

Reserves for Expected Costs o_4

Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs - Summary of Activity in Reserves for Expected Costs of Liquidation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 37,485	$ 38,087	$ 18,903
Plus net additions to (reductions in) reserves	1,522	9,511	33,948
Less liquidation costs incurred:
Ending Balance	28,712	37,485	38,087
Trust Professionals [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(5,633)	(5,238)	(10,093)
Trust Governance [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(4,293)	(4,530)	(4,404)
Other Administrative Expenses [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(369)	(345)	(267)
Reserve for Expected Wind-Down Costs [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	23,379	25,204	9,851
Plus net additions to (reductions in) reserves	5,059	4,122	25,351
Less liquidation costs incurred:
Ending Balance	22,530	23,379	25,204
Reserve for Expected Wind-Down Costs [Member] | Trust Professionals [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(3,330)	(3,125)	(7,424)
Reserve for Expected Wind-Down Costs [Member] | Trust Governance [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(2,465)	(2,695)	(2,523)
Reserve for Expected Wind-Down Costs [Member] | Other Administrative Expenses [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(113)	(127)	(51)
Reserve for Expected Reporting Costs [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	13,996	12,739	8,827
Plus net additions to (reductions in) reserves	(3,537)	5,389	8,597
Less liquidation costs incurred:
Ending Balance	6,100	13,996	12,739
Reserve for Expected Reporting Costs [Member] | Trust Professionals [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(2,303)	(2,113)	(2,669)
Reserve for Expected Reporting Costs [Member] | Trust Governance [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(1,800)	(1,801)	(1,800)
Reserve for Expected Reporting Costs [Member] | Other Administrative Expenses [Member]
Less liquidation costs incurred:
Liquidation costs incurred	(256)	(218)	(216)
Reserve for Indenture Trustee/Fiscal and Paying Agent Costs [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	110	144	225
Less liquidation costs incurred:
Ending Balance	82	110	144
Reserve for Indenture Trustee/Fiscal and Paying Agent Costs [Member] | Trust Governance [Member]
Less liquidation costs incurred:
Liquidation costs incurred	$ (28)	$ (34)	$ (81)

Reserves for Expected Costs o_5

Reserves for Expected Costs of Liquidation and Residual Wind-Down Claims and Costs - Summary of Activity in Reserves for Residual Wind-Down Claims and Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Balance, beginning of year	$ 169
Balance, end of year	177	$ 169
Liquidation Basis of Accounting [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of year	169	169	$ 966
Plus addition to reserves	8		9
Plus reclassification of accrued liability			9
Less claims allowed during the period			(815)
Balance, end of year	$ 177	$ 169	$ 169

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Taxes (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Deferred tax assets:
Reserves for expected costs of liquidation and Residual Wind-Down Claims and Costs	$ 6,989	$ 13,932
Net operating and capital loss carryovers	52,007	52,150
Gross deferred tax assets	58,996	66,082
Less: Valuation allowance	(58,701)	(54,740)
Deferred tax asset, net of valuation allowance	295	11,342
Deferred tax liabilities:
Accrued investment income	(295)	(11,342)
Gross deferred tax liabilities	(295)	(11,342)
Net deferred taxes	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Tax Credit Carryforward [Line Items]
Current tax benefit or provision			$ 0	$ 0	$ 0
Income taxes paid			0	0	0
Deferred tax benefit or provision			0	$ 0	$ 0
Federal income tax rate	37.00%	39.60%		37.00%
Net operating loss carryovers			$ 140,600,000
Remaining capital loss carryovers expire			Mar. 31, 2020
Net operating loss carryovers begin to expire			Mar. 31, 2032
Deferred tax asset			$ 52,007,000	$ 52,150,000
Deferred tax assets, valuation allowance			58,701,000	54,740,000
Change in valuation allowance against net deferred tax assets			$ 4,000,000	$ (5,400,000)
Internal Revenue Service (IRS) [Member]
Tax Credit Carryforward [Line Items]
Statutory notification period			60 days

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Wilmington Trust Company [Member]
Related Party Transaction [Line Items]
Indenture trustee fees	$ 0	$ 0	$ 0
Standard fees and commissions	$ 200,000	300,000	$ 300,000
GUC Trust Monitor [Member]
Related Party Transaction [Line Items]
Professional Fees		$ 200,000