Supreme Court now faces GM issues
News | 11 June 2009 | The New Lawyer
Opponents to the Chrysler sale are now considering similar challenges to the pending General Motors bankruptcy.
"We would not rule out going to the Supreme Court again," said Barry Bressler, a partner at Philadephia's Schnader Harrison Segal & Lewis, who is also the counsel the Ad Hoc Committee of Consumer Victims of Chrysler and the Committee of Consumer Victims of General Motors.
His comments come after the US Supreme Court refused to halt the Chrysler sale on Tuesday night this week. Bressler said some issues in the GM bankruptcy may not be "four square" with what happened in Chrysler, The National Law Journal, a US magazine targeting the legal profession reported.
Bressler and his opponent peers claim GM and the US Treasury Department have made efforts to structure the GM transaction as a so-called "363" sale, as was the case with Chrysler, saying it would be free of claims and interests.
"In GM, there is no third-party buyer. Hopefully, that means there's a stronger case for tort claimants as a whole," he said. The legal focus now shifts to the GM bankruptcy, but the Chrysler case is not over in the Supreme Court.
Bressler and consumer groups have filed a petition for review, asking justices to hear their arguments on the pending and future claims issues.