Chrysler heads back to bankruptcy court Friday

[Hannah Bell]

NEW YORK –

It could be decision day Friday for a judge trying to determine whether it's in the best interests of Chrysler and its stakeholders to sell most of the company to Italy's Fiat Group SpA...Even if Gonzalez does approve the sale, it's likely that attorneys representing three Indiana state pension and construction funds, which hold Chrysler debt and are aggressively opposing the sale, will appeal the decision and force the company to postpone the closing. Fiat could back out if the deal doesn't wrap up by June 15.

..many Chrysler dealers, bondholders and former employees say they are being steamrolled by the exceptionally speedy bankruptcy court proceedings...Nardelli said that the 789 dealers, which represented 14 percent of Chrysler's 2008 sales, also represent "a host of expenses" for Chrysler related to things such as tooling, service training, advertising and sales incentives. But when asked to quantify how much those things cost the automaker, Nardelli said he could not and wasn't sure if the automaker had determined those exact costs.

http://news.yahoo.com/s/ap/20090529/ap_on_bi_ge/us_chrysler_bankruptcy;_ylt=ArFouhPXo1AWm3socZSekaGs0NUE;_ylu=X3oDMTJuYWNkdGhlBGFzc2V0A2FwLzIwMDkwNTI5L3VzX2NocnlzbGVyX2JhbmtydXB0Y3kEY3BvcwMyBHBvcwM3BHNlYwN5bl90b3Bfc3RvcnkEc2xrA2NocnlzbGVyaGVhZA--

[ProgressiveProfessor]

1. Here is hoping the secured creditors do not get screwed and that the law is followed

Most of them were not speculators as *someone* called them.

They also have already gone around the bankruptcy court to circuit court to get a decision that will force the bankrupcy court to follow the law.