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Chrysler Llc
Chrysler LLC Statement in Response to Indiana State Treasurer Protesting Chrysler LLC's Chapter 11 Proceeding and Sale
June 13th, 2009
Indiana State Treasurer Richard Mourdock is protesting Chrysler LLC's Chapter 11 proceeding and sale on behalf of three state pension funds that he oversees. Chrysler strongly believes Indiana Treasurer Mourdock's position is wrong. Satisfying the Indiana Treasurer's demands would lead to the liquidation of Chrysler, resulting in the loss of more than 4,000 Chrysler jobs and 9,000 retiree pensions in Indiana alone. The combined Chrysler-related investments in the three state pension funds in question totaled approximately $17 million. The cumulative loss on these investments under the proposed transaction would be approximately $2 million. Chrysler's...
Source: Law & Health Weekly (2009-06-13)
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