It seems like Chrysler’s Chap. 11 bankruptcy is affecting Lee Iacocca more than just emotionally. Iacocca, who is famous for saving Chrysler from bankruptcy in 1980s, has apparently been asked to return his company vehicles.
According to FOX Business, which obtained a letter sent to former Chrysler executives and directors, the now-bankrupt automaker is asking its former executives to either buy the vehicles they are currently driving at a market value or return it to the company.
Chrysler says that the bankruptcy law doesn”t allow companies to provide former executives with vehicles.
Iacocca, whose office confirmed receiving the letter, current owns a minivan and a Chrysler 300 given to him by the company.
– By: Omar Rana
Source: Fox Business