Chrysler Creditors Seek 'Billions' From Daimler

Law360, New York (August 4, 2009, 3:30 PM EDT) -- Creditors of Chrysler LLC have asked a bankruptcy court for permission to sue the recently reorganized car company's former parent, Daimler AG, to recover “billions of dollars” Daimler allegedly stripped from Chrysler when it sold the company to Cerberus Capital Partners LP in 2007.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, the official committee of Chrysler's unsecured creditors asked for permission to file a complaint against Daimler and four former Chrysler directors on behalf of Chrysler's...
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