Indiana officials ask for second chance with Supreme Court

Officials of three Indiana funds have petitioned the U.S. Supreme Court to reconsider hearing their objections to bankruptcy court decisions that allowed Chrysler to be taken over by Italian automaker Fiat. The officials still maintain the sale unfairly favored certain unsecured stakeholders, like United Auto Workers, ahead of secured debtholders like the pension funds.

The Supreme Court declined to hear the appeal in June but made no decision on the plaintiffs’ arguments. The new petition, filed on Thursday, asks the Supreme Court to decide whether actions similar to those approved in Chrysler’s bankruptcy should be allowed in the future.