Old-Chrysler Creditors Ask 2nd Circ. To Revive Daimler Suit

Law360, New York (September 25, 2012, 9:43 PM EDT) -- A trust for Chrysler Corp. bankruptcy creditors on Tuesday asked the Second Circuit to revive a lawsuit that alleges German automaker Daimler AG rigged a deal to spinoff the company, saying the lower courts jumped to conclusions without looking at facts.

A lawyer for creditors of Old Carco LLC, a Chrysler LLC castoff created after the company was reorganized in bankruptcy, told a three-judge panel at oral arguments that lower courts skipped ahead of a necessary factual inquiry when they dismissed a suit alleging that Daimler...
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