Rejected Chrysler Dealers Lose Out On Claims

Law360, New York (January 6, 2010, 6:01 PM EST) -- Former Chrysler, Jeep and Dodge dealers axed by Chrysler Group LLC after the automaker's Chapter 11 reorganization sustained a significant blow when a court classified their contract claims against Chrysler as traditional prepetition claims, denying their bid for administrative priority.

Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York issued an order Tuesday holding that Section 365 of the Bankruptcy Code — as well as prior approval by the court — gave Chrysler license to reject its contracts and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.