The hearing on the most significant and controversial first day motions is scheduled for May 4, 2009 at 10:00 a.m. in Courtroom 523 at the United States Bankruptcy Court for the Southern District of New York, Alexander Hamilton Custom House, One Bowling Green, New York, New York 10004 1408. Chrysler has given notice of the agenda for the hearing. The failure to obtain a hearing on the more significant first day motions on May 1 should be viewed as a setback for Chrysler.
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Chrysler LLC Bankruptcy – 21 First Day Motions
Chrysler LLC has filed 21 first day motions and the Affidavit of Ronald E. Kolka in Support. The motions include one critical vendor motion to authorize payment of certain pre-petition claims of suppliers (Item 16). (Click this link for a follow up posts on the Chrysler first day motions) The first day motions are:
Chrysler LLC – 50 Largest Unsecured Bankruptcy Creditors
[Update May 29, 2009: Please note that the following Largest Unsecured Creditor list is taken from the Chrysler LLC bankruptcy filing. Subsequently, Chrysler published a “Designated Supplier Contract” list with “Cure Costs”. This list bears no resemblance to the original largest unsecured creditor list. You can look at the subsequent list by clicking on the following link to the post “Chrysler LLC Bankruptcy – Supplier $1,000,000 Cure Cost Club“.]
Chrysler LLC has requested authority to file a consolidated list of the 50 largest unsecured creditors of the 25 Chrysler and affiliated Debtors (the “Top 50 List”) in lieu of a separate list for each of the Debtors. The Top 50 List is based on the Debtors’ books and records as of approximately April 30, 2009. The Top 50 List does not include: (1) persons who come within the definition of “insider”; or (2) secured creditors, unless the value of the collateral is such that the unsecured deficiency places the creditor among the holders of the 50 largest unsecured claims.
The amounts owed to each of the unsecured creditors is listed as trade debt. In fact, the list is a who’s who of Tier 1 suppliers.
The Top 50 List in order of size is:
Chrysler LLC Bankruptcy – Debtors and Petitions
4-30-2009 Chrysler LLC and 24 affiliated entities (“Debtors”) filed a petitions in Bankruptcy Court for the Southern District of New York for relief under chapter 11 of title 11 of the United States Code. Contemporaneously with the filing of their petitions, the Debtors filed a motion requesting that the Court consolidate their chapter 11 cases for administrative purposes only.
The following are the names, case numbers and copies of the bankruptcy petitions.