Creditors of Chrysler sues Damn-Liar for pillaging Chrysler before dumping them

[Dr. Righteous]

This is from All-Par

Having won the right to do so from Judge Gonzalez, a group of Chrysler unsecured creditors have now filed suit against Daimler, accusing the conglomerate of taking billions of dollars worth of assets from Chrysler before transferring it to Cerberus two years ago. By removing those assets, according to the creditors, Daimler made it impossible to recoup loans.

The group wrote that Daimler had engineered “fraudulent transfers” of assets to Daimler, following the failure of the takeover, billed at the time as a merger. Daimler countered by writing that it had ”nurtured” Chrys

[nhdriver]

Ha.. Nutured Chrysler? Yeah, they nurtured them right into bankruptcy!

[Dr. Righteous]

I hope this goes somewhere. Damn-liar is what put Ma MoPar in the Toilet. Not poor quality cars or mismanagement by Chrysler execs.

[Stoga]

I'd love to see some justice done on this. So many people have this fairy tale ideal when it comes to Benz, and as far as I can see, they're just a bunch of damn thieves.

[Frankie]

Well, with any any justice at all, and a little luck, this should help.
The question is, where would any award go? What entity would get the money if there is a settlement?

[Stoga]

Originally Posted by Frankie

Well, with any any justice at all, and a little luck, this should help.
The question is, where would any award go? What entity would get the money if there is a settlement?

I would assume Chrysler LLC or whatever they are calling themselves these days. Then they would pay the creditors. However, that may be too simple and this too could turn into a cluster cluck of mass proportions.

[Dick]

Originally Posted by Stoga

I would assume Chrysler LLC or whatever they are calling themselves these days. Then they would pay the creditors. However, that may be too simple and this too could turn into a cluster cluck of mass proportions.

I don't think so. Chrysler LLC and the ensuing merger with Fiat is a different company than before the bankruptcy. I would think that any monies recovered would be earmarked for the previous creditors and paid through the courts.

[dodger1]

Originally Posted by Dick

I don't think so. Chrysler LLC and the ensuing merger with Fiat is a different company than before the bankruptcy. I would think that any monies recovered would be earmarked for the previous creditors and paid through the courts.

And the lawyers will eat up most of any settlement anyway, although I agree with the above, as well as Stoga's sentiments.