I thought I had seen every perspective on the possible impact of a bankruptcy filing by Chrysler, GM or Ford. Apparently, I had not.
Products Liability and Injury Lawyer Blog: Auto Industry Bankruptcy: How Will It Affect Products Liability Litigation? Should one of the Big Three file for bankruptcy, products liability litigants may be forced to petition the bankruptcy court in order to obtain permission to initiate new actions against a bankrupt automaker, or to allow them to continue proceedings already in progress in another court.
Even though we know that economy runs cyclically and that some businesses do fail, I still find it a bit unreal to consider that one of the Big Three might go under. All of a sudden, that deep pocket turns out to not be that deep.
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In this global economic crisis, no one or nothing is really spared. Even big companies are getting its taste of financial breakdown.