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Politics : Politics for Pros- moderated

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From: LindyBill	5/10/2009 9:34:55 PM
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Chrysler Creditors Give Up Challenge A group of Chrysler LLC lenders who opposed the government's restructuring plan for the auto maker agreed to abandon the fight after deciding that the financial and political costs were too high. The creditors withdrew their legal protest on Friday after two of the larger funds, OppenheimerFunds and Stairway Capital, left the dissident group. The two funds also indicated they would accept the outcome of the auto maker's bankruptcy-court proceedings. The collapse of the organized opposition removes the final significant hurdle to the Obama administration's efforts to get Chrysler reorganized swiftly in Chapter 11 bankruptcy court. The company could now ... Chrysler Creditors Give Up Challenge - WSJ.com (10 May 2009) online.wsj.com

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