Day on Torts
New Chrysler (Chrysler Group LLC) has announced that it will be accepting product liability claims on vehicles manufactured by its predecessor, now known as Old Carco, but only for accidents occurring after June 10, 2009. Chrysler yielded to pressure from consumer groups that aggressively lobbied for a law requiring warning stickers on used Chrysler vehicles, an effort which would have reduced the value of the vehicles.
From the New Chrysler Press Release:
"We know a lot more about the viability of our business today than when we purchased Old Carco’s assets in its bankruptcy proceedings several months ago," said John Bozzella, Senior Vice President, External Affairs & Public Policy, Chrysler Group LLC. "While Chrysler Group still faces challenges, we are confident that the future viability of the company will not be threatened if we accept these claims."