Sale to Fiat in court

Status
Not open for further replies.
Originally Posted By: Junior
Originally Posted By: PT1
Originally Posted By: ToyotaNSaturn
I don't get it. What does the US Supreme court have to do with the sale of a private (allegedly) company?


The bondholders of any US corporation by law are first in line for repayment of ALL of thier money (not 10%) by law. The Obama led restructuring is a violation of the 10th amendment.


Couldn't agree more! I see future trouble for companies trying to raise capital by issuing secured bonds if this is allowed to happen.

These bonds are NOT worth a dollar,they are traded commodities,they were bought for pennies on the hope this would happen.Bonds are secure but not garrenteed in value at this level of rating(junk)
 
Originally Posted By: hone eagle
Originally Posted By: Junior
Originally Posted By: PT1
Originally Posted By: ToyotaNSaturn
I don't get it. What does the US Supreme court have to do with the sale of a private (allegedly) company?


The bondholders of any US corporation by law are first in line for repayment of ALL of thier money (not 10%) by law. The Obama led restructuring is a violation of the 10th amendment.


Couldn't agree more! I see future trouble for companies trying to raise capital by issuing secured bonds if this is allowed to happen.

These bonds are NOT worth a dollar,they are traded commodities,they were bought for pennies on the hope this would happen.Bonds are secure but not garrenteed in value at this level of rating(junk)


From the article starting this thread.

"The Indiana funds hold about $42 million of the $6.9 billion in secured loans. Under the agreement hammered out by the Obama administration with most of the first-lien lenders, the group would recover about $2 billion, or 29 cents on the dollar."

Anyway, my point was I don't like the Executive Branch playing in the Judicial Branch's sandbox.
 
Chrysler has no idea what they are getting into. They will not like what Fiat is going to do...
 
Originally Posted By: Junior
Chrysler has no idea what they are getting into. They will not like what Fiat is going to do...
They can't be choosy at this point!
wink.gif
 
Since our government is starting to look a lot like the one in Italy in the 30's, it's only fitting that Fiat get involved. If for no other reason than they have decades of experience dealing with corrupt pols.
LOL.gif


There's a summary of the USSC ruling here -

http://www.scotusblog.com/wp/court-clears-chrysler-sale/

Finally, it stressed that the matter was one to be examined on the basis of a particular case, requiring “individualized judgments in each case.” It closed with this: “Our assessment of the stay factors here is based on the record and proceedings in this case alone.”

That sounds somewhat like a notice that the GM bankruptcy might not get rubber stamped so quickly.
 
Originally Posted By: StevieC
Originally Posted By: Junior
Chrysler has no idea what they are getting into. They will not like what Fiat is going to do...
They can't be choosy at this point!
wink.gif



There is always a choice. I give this one chance in three at being successful.
 
Status
Not open for further replies.
Back
Top