Update: Chrysler to exit bankruptcy on Friday
June 2nd, 2009 by Bill Cawthon
Chrysler has asked Judge Arthur Gonzalez to waive an automatic ten-day waiting period to allow the sale of its assets to NewCarCo Acquistions to proceed as quickly as possible and allow the new Fiat-led Chrysler Group LLC to commence operations.
“We are filing a request this afternoon to close the sale as early as Thursday afternoon,” said Chrysler spokeswoman Shawn Morgan. She added the company hopes to get a hearing “between now and Wednesday.”
Judge Gonzalez approved the sale on Sunday and there would normally be a statutory ten-day period between the approval and the actual sale. The waiver was granted on June 2 and Chrysler will exit bankruptcy on Friday.
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