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Christian Louboutin Italia and Edward Montgomery

the Indiana funds, represented by the same law firm as the dissident debtholders, filed their own objection and eventually appealed to the 2nd US Circuit Court of Appeals and the Supreme Court. They claim the sale unfairly favors Chrysler's unsecured stakeholders such as the union ahead of secured debtholders like themselves.The funds also are challenging the constitutionality of the Treasury Department's use of money from the Troubled Asset Relief Program to supply Chrysler's bankruptcy protection financing. They say the government did so without congressional Christian Louboutin Italia authority.The funds hold about $42.5 million, or less than 1 percent, of Chrysler's $6.9 billion in secured debt. They bought it in July 2008 for 43 cents on the dollar.Consumer groups and individuals with product-related lawsuits also are contesting a condition of the Chrysler sale that would release the company from product liability claims related to vehicles it sold before the asset sale to Fiat.Compensation for such claims would have to be sought from the parts of the company not being sold to Fiat. But those assets have limited value Christian Louboutin Scarpe Outlet and it's doubtful that there will be anything available to pay out.Chrysler also is working to reduce its ranks by 789 dealers, or Christian Louboutin Scarpe about 25 percent, as part of its cost-cutting actions. But the move, which still needs bankruptcy court approval, is being challenged by a group representing more than 300 dealers, as well as individual dealers.A hearing on the motion that began Thursday with the testimony of about a dozen dealers is scheduled to continue Tuesday with arguments. US Judge Arthur Gonzalez is expected to rule after arguments conclude.The appeals come as Congress scrutinizes the Obama administration's restructuring of Chrysler and General Motors Corp. The Senate Banking Committee said it planned to call Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as the Obama administration's director of recovery for auto communities and workers, to a hearing Wednesday.Sen. Christopher Do
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