Indiana pension funds appeal on Chrysler accepted

On Monday (June 1) a US judge dismissed Indiana Treasurer allegation the sale would have discriminated against the Indiana State Police Pension Trust, Indiana Teacher's Retirement Fund and the Major Moves Construction Fund's interests as Chrysler's first lien creditors. (Global Pensions; June 1, 2009)

Their attorney filed an appeal to the US Court of Appeals for the Second Circuit in New York City, which was granted last night, postponing the June 5 sale date.

The Indiana funds will need to file legal briefs by June 4 at noon and the hearing will begin on June 5.

"We are pleased the Court of Appeals has agreed to hear our arguments," explained treasurer Mourdock. "As we have stated from the beginning, Indiana retirees and Indiana taxpayers have suffered losses because of unprecedented and illegal acts of the federal government."