Carco Estate Asks To Preserve Suit Against Daimler

Law360, New York (May 13, 2010, 3:31 PM EDT) -- A bankruptcy judge is weighing whether to dismiss a suit disgruntled stakeholders in Chrysler LLC castoff Old Carco LLC brought accusing Daimler AG of stripping valuable assets from the automaker before handing it off to private equity firm Cerberus Capital Management LP.

Old Carco liquidation trust attorney Stephen D. Susman, of Susman Godfrey LLP, argued before Judge Arthur J. Gonzalez on Thursday in the U.S. Bankruptcy Court for the Southern District of New York at a hearing over motions to dismiss the adversary suit, which potentially...
To view the full article, register now.