Pittsburgh Legal Newslog: Justice Ginsberg Stays Chrysler Sale Pending Supreme Court Review.

Posted By Cliff Tuttle | June 8, 2009

Posted by Cliff Tuttle, (c) 2009

Justice Ruth Bader Ginsberg stayed the bankruptcy sale of Chrysler assets to enable the Supreme Court to hear appeals alleging that Treasury had engineered a run-around statutory protection for first lien creditors of bankruptcy debtors. Read the brief of the appellants.

This case promises to be of critical importance regardless of its outcome. It will affect the disposition of the GM Bankruptcy, not far behind Chrysler. It could also cause a swift erosion of first lien creditors rights.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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