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Government

May 23, 2009

Experts Decry Chrysler Bankruptcy Plan

The Obama administration could annul the legal rights of Chrysler LLC's consumers and creditors by distorting bankruptcy laws, a panel of experts told the House of Representatives Judiciary Committee Thursday.

By Robert Iafolla
Daily Journal Staff Writer

WASHINGTON - The Obama administration could take away the legal rights of Chrysler LLC's consumers and creditors by distorting bankruptcy laws to shepherd the troubled company through its Chapter 11 process, a panel of experts warned the House of Representatives' Judiciary Committee on Thursday.

And, the administration could set a dangerous precedent for future reorganizations even as General Motors Cor...

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