Bankruptcy IS messy, after all

June 3, 2009 in Finance

And so it begins: a court has agreed to hear the appeal of a small group of Indiana pension funds protesting the sale of Chrysler's assets to Fiat.

These funds hold just 0.6% of Chrysler's outstanding debt, but they've managed to throw a rather outsized wrench into the works.

There are no such things as "pre-packaged, orderly bankruptcies." The law more or less guarantees that.

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