In a petition with the bankruptcy court, in which the affected dealers try a last ditch effort to fight the system, this time using an approach claiming their "interests" were affected (in a narrow sense), as defined by 363(f), the dealers and their special council Siller Wilk throw the kitchen sink at Judge Gonzalez in an attempt to derail the Good Chrysler sale. Seton Hall law professor Stephen Lubben did a nice job of dissecting the legal basis (or lack thereof) of their argument. Regardless of the legal merits for the objection, it is a virtual certainty that Speedy with the help of Jones Day will promptly deny the objection first thing on Tuesday to set the stage for a clean and clinical approval process on Wednesday. ZH will send its representatives at the hearing with the hope of capturing this important day for the future definition of absolute priority (I respectfully disagree with a prior post by Lubben on whether ot not absolute priority was sustained in the Chrysler process).
What is best about the objection is that it contains probably the most floral description of the Chrysler process to date.
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