Posted on September 5th, 2009 • by Bill Cawthon
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 [...]
•
Like on Facebook • Tags:
bankruptcy,
Chrysler,
Indiana,
Supreme Court.
Posted on June 10th, 2009 • by Bill Cawthon
With the last legal obstacle overcome, Chrysler plans to close the sale of its “good” assets to NewCarCo Acquisition LLC by 9:00 AM Eastern Time today, clearing the way for it to exit bankruptcy. To finalize the deal, Chrysler first must transfer $2 billion supplied by the Treasury to its creditors. The Supreme Court’s decision [...]
•
Like on Facebook • Tags:
Chrysler,
Supreme Court.
Posted on June 9th, 2009 • by David Zatz
The Supreme Court has cleared the sale of Chrysler’s primary assets to a government-formed company, effectively ending bankruptcy status for the company’s most important manufacturing operations. The Supreme Court, in an unsigned opinion with just four paragraphs, made it clear it was not setting any precedents, but was deciding on this specific case. The full [...]
•
Like on Facebook • Tags:
bankruptcy,
Chrysler,
Fiat,
Supreme Court.
Posted on June 8th, 2009 • by Bill Cawthon
Justice Ruth Bader Ginsberg has granted the request of the Indiana pension funds and delayed the sale of Chrysler’s assets to a new company headed by Fiat CEO Sergio Marchionne. In an order issued this afternoon, Justice Ginsberg said the sale is “stayed pending further order of the court.” However, the stay may be only [...]
•
Like on Facebook • Tags:
Chrysler,
Fiat,
Supreme Court.
Posted on June 8th, 2009 • by Bill Cawthon
Solicitor General Elena Kagan presented written arguments to the U.S. Supreme Court today. On behalf of the Obama Administration and the U.S. Justice Department, Ms. Kagan urged the court to reject a request by a group of Indiana pension funds to delay the sale of Chrysler’s assets to NewCarCo Acquisitions LLC. In her filing, the [...]
•
Like on Facebook • Tags:
Chrysler,
Indiana,
Supreme Court.
