Chrysler's creditors committee has petitioned a federal bankruptcy court to hire Susman Godfrey and Dallas bankruptcy boutique Stutzman, Bromberg, Esserman & Plifka as special counsel for its lawsuit alleging that Daimler siphoned billions out of Chrysler through "fraudulent conveyances" before selling off its majority stake in the automaker. But in a court filing on Monday, Daimler's lawyers from Shearman & Sterling revealed a few quibbles with Chrysler's proposed retention agreement for the two firms.
August 26, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
When Daimler agreed in May to pay $600 million into Chrysler’s pension plan over the next three years and shed its remaining 19.9 percent stake in the company, the German auto giant was hoping to put the last of its obligations stemming from its disastrous $36 billion merger with Chrysler in the rearview mirror.
Not so fast.
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