Daimler could face a bill for at least $1 billion for pension liabilities and other claims from key suppliers if Chrysler LLC is forced into bankruptcy. Executives from the German automaker told shareholders at the annual meeting that, not surprisingly, they favor a Fiat-Chrysler alliance that would forestall bankruptcy.
Pressed by dissident shareholders to explain the full extent of Daimler’s liabilities should Chrysler fail, chief financial officer Bodo Uebber, Daimler’s in-house expert on all things Chrysler, said that Daimler could face claims of $1 billion for unfunded pension liabilities attached to Chrysler. In addition, there are other potential claims from suppliers, but it’s premature to speculate about the impact that Chrysler’s wobbly finances might have on Daimler’s own balance sheet, Uebber said. “We can’t say what impact Chrysler will have on us this year,” he said.
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