2nd Circ. Lets Daimler Off Hook In $4B Chrysler Feud

Law360, Los Angeles (January 30, 2013, 11:15 PM EST) -- The Second Circuit on Wednesday unanimously affirmed the dismissal of $4 billion in damages claims the Chrysler Corp. bankruptcy estate's liquidation trust brought against Daimler AG and its affiliates over their spinoff of the beleaguered carmaker, according to Daimler's attorneys.

A trust for Chrysler bankruptcy creditors in September asked the appeals court to revive a lawsuit alleging German automaker Daimler rigged a deal to spin off Chrysler, costing the struggling car company as much as $4.7 billion. A lawyer for creditors of Old Carco LLC, a...
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