Tuesday, July 28, 2009
The Law Prevails - Finally
One of the aspects of recent government actions around GM and Chrysler has been the apparent trampling of established bankruptcy laws; particularly the strong-arming of bond holders into accepting less than their legally established returns. It appears that the law has poked its head back up regarding the Delphi bankruptcy. A bankruptcy judge has ruled that the government cannot force Delphi into GM's arms.
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