Group of dissident Chrysler lenders files motion to block sale of automaker’s assets to Fiat

June 18th, 2009 Judge approves termination of GM aircraft leasesNEW YORK — A bankruptcy judge ruled Thursday that General Motors Corp. can terminate its aircraft leases as part of its ongoing restructuring.

June 10th, 2009 High court won't block Chrysler saleWASHINGTON — The Supreme Court on Tuesday cleared the way for Chrysler LLC's sale to Fiat, turning down a last-ditch appeal by opponents that included consumer groups and three Indiana pension plans. The court rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker.

June 10th, 2009 Supreme Court clears way for Chrysler's Fiat saleWASHINGTON — The Supreme Court on Tuesday cleared the way for Chrysler LLC's sale to Fiat, turning down a last-ditch bid by opponents that included consumer groups and three Indiana pension plans. The court rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker.

June 5th, 2009 Appeals court to hear argument vs. Chrysler saleNEW YORK — The decision on whether Chrysler can sell the bulk of its assets to a group led by Italy's Fiat as part of its plan to emerge from bankruptcy protection is in the hands of a federal appeals court.

June 4th, 2009 Chrysler, supporters argue sale to Fiat is fairNEW YORK — The sale of Chrysler LLC to Italian automaker Fiat Group SpA is fair, has the backing of a majority of Chrysler's creditors and should proceed quickly, Chrysler and other supporters of the sale said in court briefs filed Thursday. The groups include Chrysler, its finance arm, its unsecured creditors, the United Auto Workers and Fiat.

June 1st, 2009 Obama applauds Chrysler-Fiat dealWASHINGTON — President Barack Obama says a court's decision to approve the sale of Chrysler's assets has given the automaker "a new lease on life." A judge approved the sale of most of Chrysler's assets to Italy's Fiat on Sunday. In a statement, the president said the deal will allow Chrysler to "successfully emerge from bankruptcy as a new, stronger, more competitive company for the future." Chrysler filed for bankruptcy in April.

May 14th, 2009 Judge denies Chrysler retirees' motionNEW YORK — A judge says there isn't sufficient cause to form a committee of Chrysler's retired white collar workers to take part in the automaker's bankruptcy proceedings. U.S. Judge Arthur Gonzales on Thursday denied the National Chrysler Retirement Organization's motion without prejudice, meaning that attorneys for the group can return to make their request again if circumstances change.

May 14th, 2009 Chrysler Notebook: Judge denies retirees motionNEW YORK — Developments from Thursday's Chrysler bankruptcy hearing: THE ISSUE: A group representing Chrysler retired salaried workers asked U.S. Judge Arthur Gonzales for permission to form a formal committee to take part in Chrysler LLC's bankruptcy process.

May 8th, 2009 Chrysler lenders group releases list of membersNEW YORK — The names of a handful of Chrysler debt holders who oppose the automaker's Chapter 11 bankruptcy were disclosed Wednesday, but a number of others dropped their opposition, a week after President Barack Obama publicly chastised the group for not supporting his plan to help remake the company. The names of the investment firms representing nine funds, disclosed in a court filing by the group's lawyers, comes amid reports of death threats against the dissident creditors.

May 6th, 2009 WASHINGTON - Perched on the brink of collapse, Chrysler LLC. crept forward Tuesday with approval by a US bankruptcy judge to start drawing down from a government loan to pay outstanding bills.

May 6th, 2009 Chrysler lenders group releases list of 9 membersNEW YORK — The names of nine dissident Chrysler debt holders were disclosed Wednesday, but a number of others chose to avoid the spotlight first put on them a week ago when President Barack Obama publicly chastised them for not supporting his plan for the automaker. The nine lenders, which include previously disclosed members Stairway Capital Management and OppenheimerFunds Inc., represent just $295 million of Chrysler's total of $6.9 billion of secured debt.

May 6th, 2009 Judge OKs procedures for sale of Chrysler assetsNEW YORK — The judge overseeing Chrysler's Chapter 11 proceedings says the automaker can start taking steps toward selling the vast majority of its assets to Italy's Fiat. Judge Arthur Gonzales says the procedures proposed by Chrysler's lawyers represent a "clear and orderly process." Attorneys for Auburn Hills, Mich.-based Chrysler LLC argued that the automaker had essentially been up for sale for most of the last two years and a speedy sale was needed in order to preserve the value of the company's assets.

May 3rd, 2009 Fiat chairman: GM's Opel an "ideal" partnerROME — The chairman of Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, confirmed the Italian automaker's interest in General Motors' German unit Opel, calling it an "ideal partner" and a possible takeover by Fiat an "extraordinary opportunity." It was the first confirmation from Fiat of its interest in Opel.

April 30th, 2009 Chrysler to idle plants until Fiat deal doneNEW YORK — Chrysler says it will temporarily stop most of its vehicle production until its deal with Italy's Fiat is complete. The shutdown is effective Monday and could last up to two months.

April 23rd, 2009 Report: Treasury makes offer to Chrysler lendersLOS ANGELES — The Treasury Department lobbed back a new offer to Chrysler LLC's lenders, proposing that banks and hedge funds which hold $6.9 billion in debt forgive $5.4 billion in exchange for a 5 percent stake in a Chrysler-Fiat alliance, media reports said late Wednesday. The new offer represents payment of 22 percent of the debt lenders are owed, according to a report by The Wall Street Journal.