Claude R. “Chip” Bowles Jr. Discusses GM Bankruptcy
BGD bankruptcy attorney Claude R. “Chip” Bowles Jr. was recently featured in an article regarding how much of a shield that General Motors still has against lawsuits regarding their vehicles filed prior to their exit from bankruptcy in July 2009. U.S. Bankruptcy Judge Robert Gerber is currently working to rule on the case which heard arguments in mid-February.
Bowles explains some of the controversy that will be addressed in this case. “Where it gets tricky is that some of the people who knew about this problem went from old to new GM,” he said. “Bankruptcy sales are final because you want the buyer to use the assets to build a viable enterprise. But you have to balance that against our notions of due process.” Regardless of the ruling, it is expected that the losing side will appeal to a federal court in New York.
To read the full article, please visit the Detroit Free Press Website.