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Chrysler Appeals

posted by Stephen Lubben

As I noted earlier, the Indian Pension Funds have filed two appeals.  The debtors have now asked the bankruptcy court for permission to go directly to the 2d Circuit Court of Appeals -- bypassing the Southern District of New York.

To me this suggests that they are confident of winning, and are not going to try the old "close the deal and render the appeal moot" route that is common in chapter 11 cases.  Or at least they are not relying on that route . . .

June 1, 2009 at 10:15 AM in Corporate Bankruptcy

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It also strikes me that there may be another possibility. It strikes me the Indiana Pension Fund claims are not likely to succeed, but if the Funds did prevail, they would have established the government acted outside the scope of the Constitution. In that case, the usual rules of mootness and Bankr. Code section 363(m) might not protect the deal.

Posted by: Bob Lawless | June 01, 2009 at 11:35 AM

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