Posted by Todd Zywicki:
More on Chrysler:
http://volokh.com/archives/archive_2009_05_03-2009_05_09.shtml#1241544033
The big issue in Chrysler now is whether it will be able to do a quick
sale under section 363 or will have to go through a more formal plan
approval process before it can do so. Steve Jakubowski has detailed
analysis [1]here.
David Skeel [2]says:
But the U.S. government is essentially planning to commander the
bankruptcy process, by pushing through a sale of most of Chrysler�s
assets (not to a true third party, but to �New Chrysler�) early in
the case. The only thing standing in the way of the government�s
stratagem is the bankruptcy judge who will be forced to decide
whether to approve the sale. It will be awfully hard for a judge to
say no to the deal that�s about to be thrust on him or her. The end
result may well be desirable, but the means are worrisome.
References
1.
http://www.bankruptcylitigationblog.com/archives/bankruptcy-in-the-news-chrysler-bankruptcy-analysis-part-iii-will-the-absolute-priority-rule-kill-the-sale.html
2.
http://www.law.upenn.edu/blogs/dskeel/archives/2009/04/the_chrysler_bankruptcy--skeel.html
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