re: #496 Shr_Nfr

Since I’m not representing anyone in the Chrysler case, I didn’t realize the government DIP financing was super-priority, priming even the secured lenders. Under those circumstances, they may get wiped out, but isn’t the U.S. government then taking their property (collateral) through the use of raw economic power?

It seems like a horrible distortion of the bankruptcy system to me. There’s no arms’ length relationship between management and the DIP financing. I think I’d sue on Fifth Amendment takings grounds.