Flurry Of Activity On Day 1 In Chrysler Ch. 11

Law360, New York (May 1, 2009, 12:00 AM EDT) -- With Chrysler LLC’s first-day motions filed, including a petition for $4.6 billion of debtor-in-possession financing from the U.S. Department of the Treasury, the automaker’s Chapter 11 proceedings will only get thornier.

Since Chrysler filed for bankruptcy protection on Thursday in the U.S. Bankruptcy Court for the Southern District of New York, the company has filed 24 first-day motions and appointed Jones Day as counsel. Dozens of interested parties have notified the court of their appearance in the proceedings.

In a bid for “breathing space,” Chrysler first...
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