Deadline Established to file Chrysler Proofs of Claim

The United States Bankruptcy Court entered an order establishing the deadline to file Proofs of Claim. Pursuant to Docket # 5018, the United States Bankruptcy Court has established September 28, 2009 at 5:00 p.m. Eastern Time as the deadline for filing of proofs of claims against the Debtors. This action follows the April 30th, 2009 Chapter 11 filing by Old Carco LLC (f/k/a Chrysler LLC) and twenty-four of its affiliates (collectively, the “Debtors”) seeking relief under the United States Bankruptcy Code.

Chapter 11 provides a company with time, under protection of the court, to reorganize its business and/or capital structure before having to meet the financial claims of its creditors. Unlike an insolvency proceeding or liquidation (Chapter 7), companies that file for Chapter 11 generally continue to operate their business with the goal of emerging from the process as a viable and financially healthier enterprise.For further information, please click: www.chryslerrestructuring.com