Obama’s Auto Task Force Fails To Protect New GM From Tort Lawyers
July 9, 2009
In today’s editorial pages, the Wall Street Journal reports that Obama’s Auto Task Force tried to keep the new General Motors from having liability for future tort claims. Chrysler was succesful in securing such an arrangement, “[b]ut 11 state Attorneys General and a group of tort lawys creid foul.”
Here’s an excerpt:
In its original reorganization plan, the Administration even proposed to leave behind in the old GM all tort claims arising from cars manufactured before bankruptcy. That would have meant that all past, present and future claims related to cars GM produced before June would have had next to no chance of meaningful recovery, as they would have had to stand in line with every other unsecured creditor of the bankrupt firm.
Read the full editorial here.
Posted by Dan Pero in the categories: Michigan, Trial Lawyers
One Response to “Obama’s Auto Task Force Fails To Protect New GM From Tort Lawyers”
Not really supportive of your opinion, though I do defend Michigan Supreme Court Justice Robert Young-a bit.
http://www.attorneybutler.net/2009/07/partisan-analysis-poorfrom-both-sides.html