Former Chrysler's liquidation plan accepted by majority of voters

By Caroline Salls

Pittsburgh, March 23 - Old Carco LLC's plan of liquidation was accepted by a majority of voting creditors, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, 76 holders, or 96.2% in number, of $66.78 million, or 99.09% in amount, of first-lien secured claims voted to accept the plan, while three holders, or 3.8% in number, of $612,882, or 0.91% in amount, of these claims voted to reject it.

In addition, 8,965 holders, or 98% in number, of $11.654 billion, or 98.28% in amount, of general unsecured claims voted to accept the plan, while 183 holders, or 2% in number, of $203.61 million, or 1.72% in amount, of these claims voted to reject it.

The plan confirmation hearing is scheduled for April 5.

Old Carco was formerly Chrysler LLC, an Auburn Hills, Mich.-based automotive company that filed for bankruptcy on April 30, 2009. Its Chapter 11 case number is 09-50002.

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