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Indiana funds try to delay Chrysler sale

Posted on May 28, 2009 8:53 AM
If the sale of significantly all of the assets of bankrupt Chrysler LLC to Fiat SpA is to be approved, it will be after stern opposition from the Indiana state pension funds.

With the automaker and the federal government pressing to close a deal with Fiat and exit bankruptcy within 60 days, White & Case LLP lawyers representing the Indiana funds have been desperately trying to delay approval of the $2 billion ale, including subjecting a Chrysler executive to a lengthy cross-examination on Wednesday, May 27.

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