Thursday, May 7, 2009
Automatic Stay Invoked in Chrysler Bankrutcy in MDL Action
On April 30, 2009 Chrysler LLC and certain domestic subsidiaries filed a voluntary petition for bankruptcy in the US Bankruptcy Court for the Southern District of NY under chapter 11 of title 11 of the USC. An automatic stay imposed under section 362 of the Bankruptcy Code has been invoked. A suggestion of Bankruptcy has been filed in MDL No, 875 (asbestos).
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