An interesting story appeared in the Daily Report today outlining the fallout of the bailout of Chrysler and GM. There is a debate as to whether or not victims injured due to manufacturing and design product liability defects can maintain their existing lawsuits or bring new lawsuits against Chrysler and GM to the bankruptcy. The answer, at least at this early stage, may be that these victims are left without any way to recover.
Almost all consumer product liability claims arise from an auto accident or truck accident. The bankruptcy about a manufacturer can be devastating for people injured from defective products. In many cases, the debts of the company declaring bankruptcy may be wiped away completely. However, there seems to be at least a glimmer of hope in this case for those with claims against GM and Chrysler a court left open the question of whether or not claims can be maintained.
If you have questions or concerns about a situation involving a car accident, 18 wheeler collision, or other situation involving an injury due to the negligence of somebody else, please contact our office.
