Chrysler Non-TARP Lenders Object to Auction Plan

U.S. Bankruptcy Court in New York - A group of Chrysler LLC’s secured lenders is seeking to block the bankrupt company’s plan to sell its business at auction this month, arguing that the U.S. government is violating federal law in order to preserve the automaker.

The process is ''tainted'' because it was dominated by the government, the lenders argued in papers filed today in U.S. Bankruptcy Court in Manhattan...

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