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  •  My understanding is the stay is temporary (5+ / 0-)

    because the court wants the time for the pension fund cases to be heard. Why is that so bad?

    cheers,

    Mitch Gore

    January 20, 2009... the end of an error.

    by Lestatdelc on Mon Jun 08, 2009 at 04:42:48 PM PDT

    [ Parent ]

    •  We don't know what her reasoning is... (1+ / 0-)
      Recommended by:
      Dirtandiron

      ...that's the problem...  We don't know what she's doing or why she's doing it.

      There is nothing to hear, anyways... the pension fund cases are the equivalent of legal BS...

      DARTH SPECTER: I am altering the deal! Pray I don't alter it any further!
      LANDO REID: This deal keeps getting worse all the time!

      by LordMike on Mon Jun 08, 2009 at 04:53:02 PM PDT

      [ Parent ]

      •  Seems pretty obvious to the Times (1+ / 0-)
        Recommended by:
        Dartagnan

        From the NYT:

        The Supreme Court on Monday delayed the sale of most of Chrysler’s assets to Fiat pending further review of an appeal by three Indiana state funds and several consumer groups...

        ...

        While there was no indication long the delay might last, the order is in effect a holding action that gives Justice Ginsburg or the full court time to consider the case while parties objecting to the sale file appeals. The most likely explanation is that the justices needed the additional time to review briefs that started arriving over the weekend.

        cheers,

        Mitch Gore

        January 20, 2009... the end of an error.

        by Lestatdelc on Mon Jun 08, 2009 at 05:05:00 PM PDT

        [ Parent ]

        •  Well, these legal "experts"... (1+ / 0-)
          Recommended by:
          Dirtandiron

          ...all agreed, yesterday, that there would be no continuation of the stay at all...

          They were wrong about that, what makes them right about this?

          The general consensus that I've been reading is all the legal experts are "stunned" that the stay has been extended.

          That is not a good sign at all...

          DARTH SPECTER: I am altering the deal! Pray I don't alter it any further!
          LANDO REID: This deal keeps getting worse all the time!

          by LordMike on Mon Jun 08, 2009 at 05:11:17 PM PDT

          [ Parent ]

          •  what's "stunning" (1+ / 0-)
            Recommended by:
            stephen weinstein

            is the government's end run around and total dissregard for established bankruptcy law.

            We are a "nation of laws", right?  The executive branch doesn't just get to "make it up as they go", do they?

            Fake Left, Drive Right . . . not my idea of a Democrat . . .

            by Deward Hastings on Mon Jun 08, 2009 at 06:10:33 PM PDT

            [ Parent ]

            •  apparently sec 363 of the code (0+ / 0-)

              is very loosey goosey, and didn't the secured creditors as a class
              vote a plan?

              it's all democratic, if a class majority votes, it carries, and if the majority
              of the classes, vote it carries.

              Now the judge can do a cram down, but it's litigable

              George Bush is Living proof of the axiom "Never send a boy to do a man's job" E -2.25 S -4.10

              by nathguy on Mon Jun 08, 2009 at 10:55:12 PM PDT

              [ Parent ]

              •  it's not "democratic" (0+ / 0-)

                when the government holds a gun to your head and tells you how to vote.  It's a pretty safe bet that the secured creditors did not voluntarily vote away their secured interest . . . and that not all of them got the same bribes from the government.

                It stinks as bad as AIG and Goldman and Citi . . .

                Fake Left, Drive Right . . . not my idea of a Democrat . . .

                by Deward Hastings on Tue Jun 09, 2009 at 12:34:05 AM PDT

                [ Parent ]

                •  if the treasury was offering DIP (0+ / 0-)

                  it seems like they carry a very big stick.

                  Rather then accuse people why don't you list the
                  classes of creditors, amounts owed and how they voted.

                  George Bush is Living proof of the axiom "Never send a boy to do a man's job" E -2.25 S -4.10

                  by nathguy on Wed Jun 10, 2009 at 02:14:26 PM PDT

                  [ Parent ]

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