• “Issue a stay … please!” The Indiana pension fund group that holds a minority stake in Chrysler appealed to the high court to prevent the sale, on grounds that the sale is unconstitutional in that the rights of junior creditors are being placed above senior lenders. They also say the U.S. Treasury Department has overstepped its bounds with the sale. source

• “Issue a stay … please!” The Indiana pension fund group that holds a minority stake in Chrysler appealed to the high court to prevent the sale, on grounds that the sale is unconstitutional in that the rights of junior creditors are being placed above senior lenders. They also say the U.S. Treasury Department has overstepped its bounds with the sale.
• Other pitfalls Beyond that, consumer groups also attempted to block the deal, moving through the judicial system so quickly that it hasn’t been committed to paper, because it would shield the new company from lawsuits and other problems with current Chrysler vehicles. The Supreme Court has the ball in their hands now. source

Posted by Ernie Smith • Permalink