May 11, 2009

Court process approved and hearing set for May 27; written notice to retirees available online

On Friday, May 8, the Bankruptcy Court granted the motion to move forward with the court process for approving the proposed sale and the other agreements. As part of that process, the company will begin the mailing of written notices to retirees and surviving spouses. Those packets should be arriving in the mail at each retiree and surviving spouse household in the next few days.

A copy of these materials, along with the full legal documents, are also available at http://www.chryslerrestructuring.com. There is a link at the top of the page called “Documents Relating to UAW Retirees.” That link will provide access to full copies of all the various legal documents related to the proposed agreements.

Retirees do not need to take any action in response to the materials being distributed. The documents are all fully consistent with the agreements that were ratified last month and the UAW continues to support court approval of these agreements. The Bankruptcy Court will hold a hearing on May 27 to consider granting final approval of these agreements. The details for this hearing, and the procedures for objections, are set out in the materials being mailed to retiree and surviving spouses.

If the court approves the proposed agreements following the May 27 hearing, there will be further communications with the retirees and surviving spouses regarding administration of the ongoing medical coverage.