Asbestos claimants asked for an official committee in the General Motors bankruptcy case, saying the government’s plan to sell the automaker may be unconstitutional since they’ve been left out of negotiations.
The plan is to sell GM’s best assets to a new company. So where would that leave future asbestos claimants? Probably in the dust.
The sale of Chrysler to a new company owned 20 percent by Fiat SpA is being fought by a group of creditors including asbestos claimants. With good reason, apparently. GM’s liability for asbestos claims was $648 million in 2008 and $637 million in 2007, according to regulatory filings.
The U.S. Trustee appointed a committee of GM’s unsecured creditors that included two people suing GM for asbestos exposure and product liability, lawyers said. Only two?
The automaker filed Chapter 11 on June 1, 2009 after failing to reorganize out of court. Under U.S. bankruptcy law, companies with asbestos-related liabilities can channel legal claims into a trust. Lawyers’ bills and other costs of official committees in bankruptcy cases are typically paid by the company.
this type of cancer causes so much trouble both on the asbestos worker and the employer. Cancer for the worker and lawsuits for the employer, no one wins. Here are some MESOTHELIOMA OVERVIEW that we an read.
Has anyone seen this site for GM car and truck parts ? Will they still be open?