Chrysler Bankruptcy
BREAKING NEWS FROM CHRYSLER-Chrysler Group To Expand Accepted Product Liability Claims
Letter from Chrysler Group LLC to Senator Richard Durbin (D-Ill.) expanding liability acceptance.
“…the company will accept product liability claims on vehicles manufactured by Old Carco before June 10 that are involved in accidents on or after that date.”
Chrysler Bankruptcy: Death and Injury Victims Left without Recourse
After three days of testimony, U.S. Bankruptcy Court Judge Arthur Gonzalez Monday approved the sale of Chrysler’s assets to Italian automaker Fiat SpA. The ailing automaker filed for Chapter 11 bankruptcy protection on April 30th, despite $8 billion in government loans to keep it afloat. President Obama had fast-tracked the sale of Chrysler, setting a 30-day goal of moving Chrysler out of bankruptcy and into the newly constituted, Chrysler Group, owned by a United Autoworkers Workers union trust, Fiat and the U.S. and Canadian governments, which own small stakes.
The deal rids Chrysler of the assets it doesn’t want – factories and franchise agreements – and of its liabilities – namely claims filed by consumers who have suffered grave injuries from defective Chrysler vehicles. The terms of the sale specifically foreclose any current and future tort claims against Chrysler for vehicles purchased prior to Fiat assuming control of the company. If the bankruptcy is confirmed, there will be no money to pay current and future claims.
Would you buy a car from a company that won’t stand behind it?
Some consumers didn’t know that was the choice they were making when they bought a Chrysler vehicle. The courts, at the direction of the U.S. government, may free the automaker from taking responsibility for its mistakes, but it is consumers who will be forced to live with the consequences and state governments will assume the costs for their chronic care.
Chrysler Death & Injury Early Warning Reporting Claims by Quarter (Quality Control Systems, Corp)
Chrysler Death & Injury Early Warning Reporting Claims by State, 2003 Qtr 3 – 2008 Qtr 4, Click to enlarge
(Quality Control Systems, Corp)
Chrysler Death & Injury Early Warning Reporting Claims Summary Counts, 2003 Qtr 3 – 2008 Qtr 4, Click to enlarge
(Quality Control Systems, Corp)
