Welcome to Law-Forums.org!   

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Discuss the legalities of Bankruptcy Law

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby teithi71 » Tue Apr 05, 2011 1:39 pm

http://news.yahoo.com/s/ap/20090608/ap_on_bi_ge/us_supreme_court_chrysler

Indiana funds, which hold a small part of Chrysler's secured debt, claim the sale as structured unfairly favors Chrysler's unsecured stakeholders ahead of secured debtholders like the funds.

As part of Chrysler's restructuring plan, the company's secured debtholders will receive $2 billion, or about 29 cents on the dollar, for their combined $6.9 billion in debt. The Indiana funds bought their $42.5 million in debt in July 2008 for 43 cents on the dollar.

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 authority.
teithi71
 
Posts: 54
Joined: Fri Apr 01, 2011 2:49 am

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby boynton35 » Tue Apr 05, 2011 1:56 pm

He violated all kinds of laws.
Constitutional law.
Contract Law
Bankruptcy law
But he had to figure out some way to pay off the UAW for their political contributions. This must have seemed like the easy thing for him to do.
After all what does the law have to do with it when you are Obama.
The chosen one
boynton35
 
Posts: 44
Joined: Fri Apr 01, 2011 10:01 am

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby eilis » Tue Apr 05, 2011 2:03 pm

Don't you both feel really stupid now that the Supreme Court has okayed the Chrysler/Fiat deal?

Will you admit that you didn't know the first think about how the law worked on this matter?
eilis
 
Posts: 34
Joined: Fri Apr 01, 2011 7:55 am

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby darce » Tue Apr 05, 2011 2:12 pm

Sure.
darce
 
Posts: 50
Joined: Sat Apr 02, 2011 11:23 am

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby jung-hwa75 » Tue Apr 05, 2011 2:17 pm

yes he did and he will continue to do as he pleases until we can impeach his azz
jung-hwa75
 
Posts: 47
Joined: Thu Mar 31, 2011 10:39 am

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby fionnbharr » Tue Apr 05, 2011 2:21 pm

Every time there is a bankruptcy, one of the parties claims the procedures weren't followed. Big deal.
fionnbharr
 
Posts: 46
Joined: Sat Apr 02, 2011 2:10 am

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby caffar » Tue Apr 05, 2011 2:28 pm

Nope...I believe you may simply be ignorant of Bankruptcy laws (as you are on most topics).
caffar
 
Posts: 47
Joined: Fri Apr 01, 2011 7:49 pm

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby bedyw25 » Tue Apr 05, 2011 2:43 pm

Yea, but what does it matter?? Obama has spoken and that is all there is to that. He said he had a birth certificate, its ok with the supreme court. He fires a CEO, its ok with the supreme court. He buys GM and pays secured debt holders less than 30 cents on the dollar, no one questions his actions....
bedyw25
 
Posts: 60
Joined: Fri Apr 01, 2011 6:15 pm

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby karlitis » Tue Apr 05, 2011 2:48 pm

He spends too much time reading about himself to read the constitution
karlitis
 
Posts: 41
Joined: Fri Apr 01, 2011 5:04 pm

Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

Postby vruyk » Tue Apr 05, 2011 2:53 pm

Obama knows more better than you about what to do to save our country. You should worship him and let him lead us through these difficult times. He is more smarter and we should listen to him.
vruyk
 
Posts: 52
Joined: Sat Apr 02, 2011 2:18 am

Next

Return to Bankruptcy Law

 


  • Related topics
    Replies
    Views
    Last post
cron