Bankruptcy

GM Appeals, Part Deux

By John Pottow

The pending request for certification to the U.S. Court of Appeals for the Second Circuit (CA2), if granted, would bypass the first rung on the appellate ladder of the U.S. District Court for the Southern District of New York.  But even that doesn't get the appellants far.  As mentioned in the prior post, some of the biggest issues, such as the 363(f) sub rosa balderdash, have now been decided by a panel decision of CA2, meaning that there is now established (adverse) precedent.  Unless the CA2 decides to grant en banc review -- highly unlikely -- the appeal might even be disposed of by summary order (at least the parts of which that duplicate Chrysler issues).  That in turn augurs well for a quick sojourn in CA2.

Full post as published by Credit Slips on July 07, 2009 (boomark / email).