Frank Beckman talks with Tom Lauria, bankruptcy attorney at White & Case, who represents a group of lenders that object to the Chrysler sale.
Folks, this is rather sobering news for both contract law and for debt holders in any industry that may fall into a perilous condition. If the Federal government can arbitrarily step in and reallocate the capital structure of a company, then the current set up of any company is meaningless.
Disclosure (“none” means no position):