Chrysler Creditors Attack US Over Sale Plan

Law360, New York (May 20, 2009, 12:00 AM EDT) -- Three Indiana pension funds have accused the federal government of committing “breathtaking” violations of federal law in negotiating Chrysler LLC's proposed sale to Fiat SpA, and said that a district court, rather than bankruptcy court, should consider the limits of the government's power.

The Indiana State Teachers Retirement Fund, Indiana State Police Pension Trust and Indiana Major Move Construction Fund — all first-lien secured creditors of Chrysler — filed a motion Wednesday in the U.S. Bankruptcy Court to withdraw the reference as to Chrysler's motion to...
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