As far as I'm aware, GM shareholders received nothing.
In the bankruptcy, the Motors Liquidation Company purchased all the valuable assets (including the names and trademarks) from GM. The proceeds were (and are still being) used to pay bondholders and other creditors. Anything remaining would be given to shareholders, but the proceeds of the sale are not expected to be even close to sufficient for this to occur (that's why GM went bankrupt to begin with).
I wasn't aware of this. You're saying that the bankruptcy essentially created a new company, with the original stockholders left with dangling pointers to essentially nothing but a prayer that the new company might give them something?
I believe that's the general gist of it, though I freely admit I don't know a lot about it. I'd be very happy to defer to someone who knows more about it.
In the bankruptcy, the Motors Liquidation Company purchased all the valuable assets (including the names and trademarks) from GM. The proceeds were (and are still being) used to pay bondholders and other creditors. Anything remaining would be given to shareholders, but the proceeds of the sale are not expected to be even close to sufficient for this to occur (that's why GM went bankrupt to begin with).