Chrysler Creditors Sue Daimler Over Sale

Law360, New York (August 18, 2009, 1:09 PM EDT) -- On the heels of receiving the go-ahead to file suit, the official committee of unsecured creditors for Chrysler LLC has submitted its complaint against former parent company Daimler AG and four former Chrysler directors related to the contentious 2007 sale of the beleaguered automaker.

On Monday, the committee formally filed suit in the U.S. Bankruptcy Court for the Southern District of New York, after Judge Arthur Gonzalez signed off last week on the creditors' motion to pursue claims.

“This suit is required to hold Daimler AG...
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