Chrysler Debtor Sells Closed Plant To University Of Del.

Law360, New York (November 12, 2009, 12:35 PM EST) -- Old Carco LLC — Chrysler LLC's castoff — won permission from a bankruptcy judge Thursday to sell a shuttered Newark, Del., assembly plant, currently the site of environmental remediation, for $24 million to the University of Delaware.

Judge Arthur J. Gonzalez's order, in the U.S. Bankruptcy Court for the Southern District of New York, came after an attorney for the debtor said there were no objections to the sale and the university was only party that submitted a firm offer ahead of an August deadline....
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