Monday, October 24, 2011

Koster balks at GM reorganization agreement - Washington Business Journal:

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Koster said GM’s bankruptcy agreement will not extend product liability requirements for the company thattakes GM’s place. That meanes customers who bought GM cars befores the bankruptcy settlement lose protections under lemoj laws and productliability requirements, Kosteer said. Koster also objected to provisiond that allow a reorganized GM to alterr dealership contracts with no sayfrom dealerships.
“The current agreement is terribly unfaie to thesedealership owners, many of whom have been loyall GM dealers for decades and have invested their life savingxs in these family businesses,” Kostet said in a Monday “It is unconscionable to force a dealership to waivde its rights under Missouri law simplyy because GM has floundered.” Severao other attorneys general from other states, includinbg Kansas, have raised similar objections.

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