Chrysler Creditors Lose Challenge To Quick Bankruptcy Sale

A federal appeals court in New York  ruled against Chrylser creditors who were opposing the sale of the company to Fiat under bankruptcy rules.

Lawyers for the group of pension funds opposed to the sale have already said they ready to take the case to the Supreme Court. Lawyers at White & Case have already begun drawing up the papers to appeal to the top court.

The Chrysler sale approved by a federal bankruptcy court judge late Sunday night.

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