GM & Chrysler Litigation News

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MSI
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GM & Chrysler Litigation News

Post by MSI » Mon Aug 31, 2009 6:36 pm

July 10, 2009: GM, Chrysler Bankruptcies Make Targets of Dealers, Suppliers
General Motors Corp. and Chrysler Group LLC dealers and suppliers, such as TRW Automotive Holdings Corp., are becoming targets of product-liability lawsuits in the wake of the automakers’ bankruptcies

August 27, 2009 Chrysler changes course on product liability claims
The Chrysler Group LLC reversed course and agreed to accept product liability claims on vehicles built before the company's good assets exited bankruptcy on June 10. Chrysler had left behind all of its product liability claims in bankruptcy, which drew outrage in Congress, in part because consumers could be involved in an accident with the 31 million Chrysler vehicles built before June that are on the nation's roads and have little recourse. Those claims were left behind in "Old Carco" -- essential what is left of Chrysler LLC, and the only alternative was to file a claim as an unsecured creditor against the few assets the entity has, which means victims were likely to get little or nothing.
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