Consumer Law

GM Bankruptcy Sale Agreement Amended to Cover Product Liability Claims

By Brian Wolfman

A number of news sources are reporting that the GM bankruptcy sale agreement has been amended to assure that the new company emerging from bankruptcy will be liable for product liability claims. As the New York Times story puts it:  "General Motors and the Obama administration have reached a deal for the carmaker to assume responsibility for product liability claims filed after it emerges from bankruptcy as a new company, even those claims involving vehicles made by the old company, according to documents filed in bankruptcy court late Friday."

UPDATE:  Read the amended sales agreement. The changes are in red and blue.

Full post as published by CL&P Blog on June 28, 2009 (boomark / email).