Chrysler Fights To Get D&O Liability Release OK'd

Law360, New York (June 17, 2009, 12:00 AM EDT) -- The estate of Chrysler LLC has responded to an objection lodged by the committee of unsecured creditors in the bankruptcy case over a requested liability release for directors and officers, contending that it would actually be in the best interest of the committee if the release were approved.

A reply memorandum in support of the liability release request was filed on behalf of Old Carco LLC, formerly known as Chrysler, on Thursday in U.S. Bankruptcy Court for the Southern District of New York, claiming that the...
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