Hoosier State irate

4 June 2009 By Lauren Silva

Three Indiana pension funds have filed a lawsuit challenging the proposed restructuring of bankrupt US car maker Chrysler. Indiana State Treasurer Richard Mourdock gave his perspective on the politicallycharged situation to Breakingviews.com’s Lauren Silva Laughlin.

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On April 30 Chrysler filed for bankruptcy in the southern district court of New York. It plans to use section 363 of the bankruptcy code to expedite the process, which includes selling a stake to Fiat, the US government, and the United Auto Workers Union. On June 1, Judge Arthur Gonzalez approved the plan. He rejected hundreds objections to the sale, according to the New York Times.

A group of Indiana state pension funds appealed their case objecting to the sale. The appeal will be heard by the States Court of Appeals for the Second Circuit on June 5 at 2pm

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