Shocker! GM and Chrysler Immune From Liability Suits After Bankruptcy?

[cjforumadmin]

http://www.bangshift.com/blog/Shocker-GM-and-Chrysler-Immune-From-Liability-Suits-After-Bankruptcy.html

[Loren]

Re: Shocker! GM and Chrysler Immune From Liability Suits After Bankruptcy?

That's why we don't buy from a company we believe may go bankrupt, and why companies would like to avoid the impression they may do so. Right up until the very last. Part of bankruptcy is clearing out of old obligations, the creditor is out of luck.

Gotta love being an adult car guy in 2009. Your belief in the grand American industry is a rug being pulled out from under your feet.

[SuperBuickGuy]

Re: Shocker! GM and Chrysler Immune From Liability Suits After Bankruptcy?

I'm not shocked at all; a contractor goes bankrupt and leaves the homeowners without recourse.... not surprising, not new, not groundbreaking.... not even the largest company to do so.

[JRoberts]

Re: Shocker! GM and Chrysler Immune From Liability Suits After Bankruptcy?

Unfortunately, like most people, I never thought about this before. I should have known it would happen though.

I asked my wife the other day if she would consider a GM or Chrysler product for her next car. Her reply was, "Sure." Then she thought and said,"Do you mean for me personally?" I said, "Yes." After a couple of seconds of thought, "I do't know about that." This is exactly why I wouldn't be hard pressed to buy a new vehicle from either company.

"Now let's see, honey. How about a new 2010 Taurus SHO? Oh, and can I drive it?"

[Thackdaddy]

Re: Shocker! GM and Chrysler Immune From Liability Suits After Bankruptcy?

Anyone heard anything about environmental obligations, if they are free and clear of those it should put them back in the green.

[SuperBuickGuy]

Re: Shocker! GM and Chrysler Immune From Liability Suits After Bankruptcy?

It depends. Bankruptcy is a legislative process, meaning the rules change as Congress gets wild hairs up their collective keisters (kiesters?) It used to be that yes, you'd be free and clear - but then Superfund happened and the results changed the rules.