Chrysler LLC Chief Executive Robert Nardelli took the stand Thursday to give testimony in connection with the auto maker's proposed sale to a group that includes Fiat Spa (FIATY).
Nardelli's testimony could last several hours.
The sale hearing began Wednesday and is expected to go late into Thursday evening. U.S. Bankruptcy Judge Arthur Gonzalez, who is presiding, indicated he was prepared to sit until 10 p.m. or later on Thursday.
Chrysler, which has sought Chapter 11 bankruptcy protection, is hoping to sell the bulk of its assets to a group that includes Fiat, the United Auto Workers union and the U.S. and Canadian governments.
A group of Indiana pension funds is fighting the sale, calling it unconstitutional.
Thursday, May 28, 2009
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