Chrysler Seeks To Clarify Lemon Law Provision

Law360, New York (July 1, 2009, 12:00 AM EDT) -- The former Chrysler LLC has asked the bankruptcy court to approve a process to ease the implementation of the lemon law provision in Italian carmaker Fiat SpA's $2 billion agreement to purchase the company.

The sale agreement, consummated June 10, allows for the sale of Chrysler's principal assets to Fiat, creating a new company called Chrysler Group LLC, referred to in the bankruptcy proceeding as “New Chrysler.”

Under the deal, new Chrysler would also assume certain liabilities of the old company, and pay the old company...
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