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Mich. opposes Chrysler sale over workers' comp

Mich. opposes Chrysler sale over workers' comp

Michigan is objecting to the sale of Chrysler LLC assets to Italian automaker Fiat, claiming Chrysler won't meet obligations to a state workers' compensation fund.
State Attorney General Mike Cox filed papers in bankruptcy court in New York on Tuesday on behalf of the State of Michigan Workers' Compensation Fund and Funds Administration.
Cox warns Fiat won't assume Chrysler's workers' compensation liabilities.
The filing says that could leave Chrysler unable to make yearly $25 million payments. The state worries its Self-Insurers' Security Fund could become insolvent and leave all eligible injured workers at larger companies without benefits.
The filing says Chrysler can't avoid regulatory requirements that apply to all Michigan employers.
An e-mail message seeking comment was left after hours with Chrysler.


Updated : 2021-06-13 17:25 GMT+08:00