The state of Michigan is objecting to the sales of Chrysler LLC assets to Italian automaker Fiat. The state claims that the new company won’t meet obligations to a state workers’ compensation fund.
Papers were filed in bankruptcy court in New York on Tuesday by State Attorney General Mike Cox, filing on behalf of the State of Michigan Workers’ Compensation Fund and Funds Administration.
The filing says the sales could leave Chrysler unable to make yearly $25 million payments. The state is worried that its Self-Insurers’ Security Fund could become insolvent and leave all eligible injured workers at larger companies without any benefits. Judge Arthur Gonzales said the objection could be resolved at a later date if and when he is asked to rule on a safe, final motion. The filing also states that Chrysler cannot avoid regulatory requirements that apply to all Michigan employers.
If you or someone you know has been injured on the job, please contact the Raleigh workers' compensation lawyers of Scudder & Hedrick at 919-851-3311.
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