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KL3 2722082.2
 No. ____________ I
N THE
 
 Supreme Court of the United States
 
 ⎯⎯⎯⎯⎯⎯♦⎯⎯⎯⎯⎯⎯ 
 I
N RE
C
HRYSLER
LLC,
 
D
EBTOR
 
 ⎯⎯⎯⎯⎯⎯♦⎯⎯⎯⎯⎯⎯ 
 INDIANA
 
STATE
 
POLICE
 
PENSION
 
TRUST,
 
INDIANA
 
STATE
 
TEACHERS
 
RETIREMENT
 
FUND,
 
INDIANA
 
MAJOR
 
MOVES
 
CONSTRUCTION
 
FUND,Petitioners,
 V
.CHRYSLER
 
LLC,
AKA
C
HRYSLER
 A
SPEN
,
AKA
C
HRYSLER
T
OWN
&
 
C
OUNTRY 
,
AKA
C
HRYSLER
300,
AKA
C
HRYSLER
S
EBRING
,
AKA
C
HRYSLER
PT
 
C
RUISER
,
AKA
D
ODGE
,
AKA
D
ODGE
 A
 VENGER
,
AKA
D
ODGE
C
 ALIBER
,
AKA
D
ODGE
C
HALLENGER
,
AKA
D
ODGE
D
 AKOTA
,
  AKA
D
ODGE
D
URANGO
,
AKA
D
ODGE
G
RAND
C
 ARAVAN
,
AKA
D
ODGE
J
OURNEY 
,
AKA
D
ODGE
N
ITRO
,
AKA
D
ODGE
R
 AM
,
AKA
D
ODGE
S
PRINTER
,
AKA
D
ODGE
 V
IPER
,
AKA
J
EEP
,
AKA
J
EEP
C
OMMANDER
,
AKA
J
EEP
C
OMPASS
,
AKA
J
EEP
G
RAND
C
HEROKEE
,
AKA
J
EEP
L
IBERTY 
,
AKA
J
EEP
P
 ATRIOT
,
AKA
J
EEP
W
RANGLER
,
AKA
M
OPER
,
AKA
P
LYMOUTH
,
AKA
D
ODGE
C
HARGER
;
 
INTERNATIONAL
 
UNION,
 
UNITED
 
 AUTOMOBILE,
 
 AEROSPACE,
AND
 AGRICULTURAL
 
IMPLEMENT
 
WORKERS
 
OF
 
 AMERICA,
 
 AFL-CIO
 
(“UAW”),
 
FIAT
 
S
P
 A.
AND
FIAT
 
S.
P
.A.
AND
NEW
 
CARCO
 
 ACQUISITION
 
LLC,
 
UNITED
 
STATES
 
OF
 
 AMERICA,
 
EXPORT
 
DEVELOPMENT
 
CANADA,
 
CHRYSLER
 
FINANCIAL
 
SERVICES
 
LLC,
 
THE
 
OFFICIAL
 
COMMITTEE
 
OF
 
UNSECURED
 
CREDITORS,Respondents.
⎯⎯⎯⎯⎯⎯
♦
⎯⎯⎯⎯⎯⎯
 
ON APPLICATION FOR IMMEDIATE STAY OF SALE ORDERSISSUED BY THE BANKRUPTCY COURT
⎯⎯⎯⎯⎯⎯
♦
⎯⎯⎯⎯⎯⎯
 
DIRECTED TO HONORABLE RUTH BADER GINSBURG, ASSOCIATE JUSTICEOF THE SUPREME COURT OF THE UNITED STATES AND CIRCUIT JUSTICEOF THE UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT
RESPONSE OF THE OFFICIAL COMMITTEE OF UNSECURED CREDITORSTO APPLICATION FOR IMMEDIATE STAY OFSALE ORDERS ISSUED BY THE BANKRUPTCY COURT
K 
RAMER
L
EVIN
N
 AFTALIS
& F
RANKEL
LLP1177 Avenue of the AmericasNew York, New York 10036(212) 715-9100T
HOMAS
M
OERS
M
 AYER
 K 
ENNETH
H.
 
E
CKSTEIN
 J
EFFREY 
S.
 
T
RACHTMAN
 
(Counsel of Record) Counsel for the Official Committee of  Unsecured Creditors of Chrysler LLC, et al.
 
 
 -
i-
 
KL3 2722082.2
 
Table of ContentsPage
Table of Authorities.......................................................................................................iiStatement.......................................................................................................................2Background Facts..........................................................................................................6Reasons for Denying the Application..........................................................................13I. THE BALANCE OF HARMS WEIGHS OVERWHELMINGLY  AGAINST A STAY............................................................................................14II. THE INDIANA FUNDS HAVE NOT DEMONSTRATEDEITHER A “REASONABLE PROBABILITY” OF OBTAININGCERTIORARI OR A “FAIR PROSPECT” OF REVERSAL............................15 A. The Proposed Transaction Fits The Paradigm Of ANecessary And Appropriate Going Concern Sale..................................15B. The Proposed Sale Is Not A Sub Rosa Plan Or OtherwiseInconsistent With The Bankruptcy Code..............................................21Conclusion....................................................................................................................27
 
 -
ii-
 
KL3 2722082.2
 
Table of AuthoritiesPageREPORTED CASES
In re Armstrong World Industries, Inc., 432 F.3d 507 (3d Cir. 2005).......................23 Assocs. Commercial Corp. v. Rash, 520 U.S. 953 (1997)............................................22Bank of Am. Nat’l Trust & Sav. Ass’n v. 203 N. LaSalle St. P’ship,526 U.S. 434 (1999)................................................................................................16In re Café Partners/Washington 1983,90 B.R. 1 (Bankr. D.D.C. 1988)..............................................................................24In re Chateaugay Corp.,118 B.R. 19 (Bankr. S.D.N.Y. 1990).......................................................................16Committee of Equity Sec. Holders v. Lionel Corp. (In re Lionel Corp.),722 F.2d 1063 (2d Cir. 1983)............................................................................11, 18Conkright v. Frommert,129 S. Ct. 1861 (2009)........................................................................................3, 14COR Route 5 Co., LLC v. Penn Traffic Co.(In re Penn Traffic Co.),524 F.3d 373 (2d Cir. 2008)....................................................................................20In re Decora Indus., Inc.,No. 00-4459 JJF, 2002 WL 32332749 (D. Del. May 20, 2002)..............................17In re Doyle Manufacturing Corp.,77 F. Supp. 116 (N.D.N.Y. 1948)............................................................................16Florida Dep’t of Revenue v. Piccadilly Cafeterias, Inc.,128 S. Ct. 2326 (2008)............................................................................................17In re Ionosphere Clubs, Inc.,98 B.R. 174 (Bankr. S.D.N.Y. 1989).......................................................................16In re Lady H Coal Company, Inc.,193 B.R. 233 (Bankr. S.D.W. Va. 1996).................................................................18
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