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... WSJ quantifies one of those problems: an eye-popping $45 an hour labor cost gap between Chrysler and its Japanese competitors operating in the US. The solution is something called a "voluntary employees beneficiary association" (VEBA). ... would be debt free and without a shareholder base to worry about in the event of labor action. And in Chrysler, LLC, the union gets no sticks under the proxy rules it can use in highly public annual meetings, which may have some relevance for Ford and GM. It's ...

Updating this entry from Sept. 4th, "Mourdock again aims at Chrysler: Wants bankruptcy sale re-examined" is the headline to a...

Updating this ILB entry from Sept. 6th, Lyle Denniston of SCOTUSBlog has this long entry today on the new petition...

... court clearly articulates the reasons for approving, a settlement that deviates from the priority rule. (Emphasis added). Glaringly absent in Chrysler's motion in support of the sale is reference to Bankruptcy Rule 9019 as a basis for the relief requested. This could be ... f) permits sales free and clear of liens (but see Judge Markell's bombshell ruling in PW, LLC), nothing in Section 363 contemplates the kind of restructuring of rights called for by the proposed transaction. Rather, such relief ...

In my last post, I promised to break down the lawsuit filed recently by Chrysler LLC's creditors alleging fraudulent transfer against Daimler AG. That project begins with this entry, which discusses the procedural ... under the newly created parent company DaimlerChrysler AG. What's now Daimler AG is the remainder of DaimlerChrysler AG after its sale of Chrysler to Cerberus Capital Management in 2007. Daimler AG is sued in its capacity as the owner of Old Chrysler. The creditor's committee obtained ...

... accept product liability claims on vehicles manufactured before June 10, 2009. As part of the bankruptcy deal struck with congress Chrysler Group did not have to accept liability for cars manufactured before the bankruptcy deal was approved. Stewart Eisenberg ... of Congress, Chrysler Group LLC announced that the company will accept product liability claims on vehicles manufactured by Chrysler LLC (now OldCarco LLC) before June 10, 2009, and involved in accidents on or after that date. On June 10, ...

... , which the automaker hopes will end in a swift exit from court oversight. Attorneys for Auburn Hills, Mich.-based Chrysler LLC argued that the automaker had essentially been up for sale for most of the last two years and that a speedy ... later if and when he is asked to rule on a final sale motion. As the afternoon hearing stretched into the night, Chrysler turnaround officials and executives testified about the events of the months leading up to the company's bankruptcy protection filing. Scott ...

... documents which have been submitted to the U.S. Congress by automakers Ford, Chrysler, and General Motors as requested: FORD: Ford Motor Company Business Plan ... planning documents were submitted on December 2, 2008 by Chrysler LLC but are not available for posting: Chrysler LLC Business Plan submitted to Congress on December 2 ... Sheet Related to the Business Plan Submitted to Congress on December 2, 2008. Letter from Chrysler Chairman Bob Nardelli to House Services Chairman Barney Frank and Ranking ...

... Appeals has issued an extensive opinion setting forth the reasoning behind its previous approval of the sale of substantially all of Chrysler LLC's assets to a newly-formed, Treasury-backed and Fiat-managed entity under section 363 of ... deteriorating assets) the relatively quick procedures for a section 363 sale may be superior to a plan of reorganization. Indeed, the Chrysler court expressly recognized that this need is heightened in today's constrained credit environment, where liquidation may be ...

... an article from The Hill that gives more information on how existing products liability claims against GM and Chrysler will be handled. Bottom line: claimants will be unsecured creditors, and will be thrown into the pot with all of the other unsecured ... the claim. But that are many unsecured claims. Here is a list offered by one law firm of the top 50 unsecured creditors in the Chrysler action. Leading the way is Ohio Module Mfg.Co, LLC with a stated claim of over $70,000,000. Number 50 on the list ...