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US court clears way for Chrysler-Fiat deal
(Agencies)
Updated: 2009-05-06 16:40

US court clears way for Chrysler-Fiat deal

Ron Kolka, chief financial officer for Chrysler, right, arrives at bankruptcy court Tuesday, May 5, 2009 in New York. A dissident group of Chrysler lenders is objecting to the sale of the bulk of the automaker's assets to Italian automaker Fiat, saying that the proposed sale process is designed to prevent competitive bidding. In an objection filed Tuesday, the lenders group says the proposed bidding procedures only give the appearance of legitimacy and don't maximize the sale price of the assets. [Agencies]