Posted On: June 26, 2009, 2:11 pm CDT

Posted By: Ric

the article is silent to the fact GM and Chrysler both have existing paid products liability polices that will still be triggered in the event of a product claim. The bankrupt companies will continue to exist w/ an agent for service along side the new reformed companies, even if the former companies no longer produce anything or have a cash flow. The can be sued, and the suit tendered to the agent for service. Further, for occurences after the existing policies run out, the ongoing entities have the obligation for recalls of existing fleets, so in many case one could sue for negligence in ongoing operations vs. product liability, i.e. they should have issued a recall vs. actual product based claims...