10 Pages Posted: 15 Jun 2010 Last revised: 30 Jun 2012
Date Written: March 1, 2010
This article examines the Chrysler section 363 transaction and the opinions that approved it. Chrysler may be merely another example of good facts and a crisis making what is, perhaps, bad law, which has been a pattern in the evolution of chapter 11 jurisprudence since the Bankruptcy Code was enacted in 1978. The Supreme Court appears to have recognized this in the Chrysler case and took the opportunity created by the petition for the certiorari to attempt to wipe the slate clean and reestablish the pre-Chrysler status quo. If this was the Justices’ intent, it is not clear that they succeeded and, if past events are taken as predictive, more likely that they did not.
Keywords: bankruptcy, chapter 11, chrysler, reorganization, sale of substantially all the assets, section 363
JEL Classification: K00, K11, K10, K12, K19, K29, K39, K49
Suggested Citation: Suggested Citation