Chrysler creditors get approval to sue Daimler

Crediors of Chrysler who recently petitioned for approval to sue German automaker Daimler AG, on the claim that they stripped the U.S. company of most of its assets before they sold it, have been given the green light according to Reuters.  Judge Arthur Gonzalez, the same judge who presided over Chrysler’s bankruptcy gave the go ahead.

“We are absolutely certain that it is without merit and we will defend ourselves aggressively against any of the claims,” Daimler spokesman Han Tjan told Reuters.  In the filing from earlier this month, the creditors expressed their desire to recover more than $3 billion.

The company’s creditors, who include the U.S. government, have until Tuesday to file the suit.

By: Stephen Calogera

-Source: Reuters