Insurer Risks In Light Of Chrysler, GM Bankruptcies

Law360, New York (July 20, 2009, 11:11 AM EDT) -- The restructurings of Chrysler and General Motors have moved through the bankruptcy court at a dizzying pace. These reorganizations are structured as asset sales to new entities “free and clear” of many tort claims arising from vehicles manufactured and sold pre-bankruptcy.

The sale of substantially all of Chrysler’s assets to Fiat already was approved in June. A judge approved the sale of GM’s most-valuable assets to a new company, majority-owned by the federal government earlier this month.

Through this process, the automakers are eliminating thousands of...
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