The Indiana State Teachers Retirement Fund, Indiana State Police Pension Trust, and Indiana Major Move Construction stand to lose millions, even as secured creditors of Chrysler. The federal government, using taxpayer-funded TARP monies, is trying to take on higher-priority status than these secured creditors, according to State Treasurer Richard Mourdock.
According to documents, not only are the Feds trying to push the sale of the Chrysler through quickly, but offering these Indiana pension and construction funds only pennies on the dollar to sell the Company’s assets to foreign-owned Fiat.
Here is the Treasurer’s Press Release:
http://www.in.gov/tos/files/TreasurerMourdockObjectiontoChryslerBankruptcy.pdf
Here is Indiana’s court objection:
http://www.in.gov/tos/files/Docket_1185.pdf
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