- Jun 4, 2009
REPORT: Chrysler's sale to Fiat put on hold temporarily to hear debtor objections
Veteran bankruptcy judge Arthur Gonzalez couldn't disagree with Mr. Mourdock more, saying ""the Court finds that all relevant standards have been established to grant the relief requested." By "relief," Judge Gonzalez is likely talking about Fiat and its ability to take ownership of Chrysler.
Though $42 million doesn't buy a lot these days, the state has the right to fight the bankruptcy. Whether the midwestern state wins its case is another matter all together.The New York Court of Appeals hearing of the state of Indiana's objection to the Chrysler bankruptcy hearing is widely viewed as little more than a formality. Chrysler's bankruptcy has gone very smoothly thus far, and with the backing of plenty of rock-solid legal types in the White House, it is now looking more and more likely that Chrysler will indeed exit bankruptcy in around 60 days.
[Source: The Detroit Bureau]