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The “Non-TARP lenders” who are still opposing a quick sale of Chrysler, instead favoring liquidation, are listed below (with thanks to sebring96hbg). It is interesting to note that all but one are headquartered in New York, with two in Purchase. There may be some overlap in ownership. The “Arrow Distressed Securities Fund” almost certainly bought the [...]
Judge Gonzalez rejected a group of Chrysler creditors’ demand to remain anonymous, based on “death threats” which turned out to be general posts in the comments section of a Web site. The secured debt-holders who wish to block the Treasury-Chrysler-Canada-Fiat deal will have to publish their identities.
The number of creditors objecting to the Chrysler-Fiat-Treasury plan appears to be dwindling, if a motion filed today by the “Attorneys for the Chrysler Non-TARP Lenders” (Thomas Lauria, who claimed death threats as the sole named attorney) is any evidence. In part II, the document tellingly describes the “Non-TARP Lenders” as holding “over $300 million [...]
Judge Arthur Gonzales approved $4.6 billion in debtor-in-possession financing allowing Chrysler to pay its dealers and suppliers and to give Chrysler time to finalize its alliance with Fiat. The U.S. Treasury will supply $4.1 billion of the funding with another $400 million coming from New York banks that already banks hold about $4 billion in [...]