Former Chrysler to emerge from bankruptcy on filing anniversary

By Lisa Kerner

Charlotte, N.C., April 30 - Old Carco LLC will emerge from bankruptcy on Friday, one year to the day after it filed for bankruptcy, according to an attorney close to the case.

The company's plan of liquidation was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on April 20.

Old Carco said previously that its plan of reorganization was based on the liquidation of the company's remaining assets, including collateral of the first-lien lenders and government debtor-in-possession lenders and the prosecution of an action against Daimler AG.

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

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