06.03.09

Court to hear appeals in Chrysler bankruptcy case

The appeal of the Bankruptcy Court’s approval order will be heard by a three-judge panel of the Second Circuit Court of Appeals in New York City. Briefs are to be filed on Thursday and the appeal will be heard on Friday at 2 p.m. The UAW will be submitting briefs in support of the agreements and the sale. While the appeal is pending, the Second Circuit issued a “stay” of the Bankruptcy Court’s approval order. As long as the stay is in effect, the restructuring cannot be completed. We will be urging the Second Circuit to approve the Bankruptcy Court’s decision and lift the stay so that the restructuring can move forward.