Chrysler Creditors Move To Delay Liability Releases

Law360, New York (June 16, 2009, 12:00 AM EDT) -- Contending that it is still engaged in an investigation, a committee of unsecured creditors in the Chrysler LLC bankruptcy case has asked the court not to approve a release of liability claims against certain directors and officers of the company until after the committee finishes its probe.

The committee, which includes the United Auto Workers union, automotive components supplier Magna International Inc. and car dealer AutoNation Inc., filed a limited objection Monday in the U.S. Bankruptcy Court for the Southern District of New York in response...
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