According to a report by Reuters, the judge who oversaw the cleanup of Enron and WorldCom meltdowns will oversee the overhauling Chrysler. Judge Arthur Gonzalez of U.S. Bankruptcy Court in Manhattan was assigned to the Chrysler case on Thursday.
“We have a judge here with experience, who did Enron and WorldCom at the same time, so he’s not afraid of work and he understands complex issues,” Natasha Labovitz, a partner in the restructuring group at law firm Kirkland & Ellis LLP, told Reuters.
It is reported that if government officials have their way, Chrysler will come out of bankruptcy in 30 to 60 days as a new company in an alliance with Fiat.
The first-day hearing is set for Friday morning – that’s tomorrow.
– By: Omar Rana