A federal bankruptcy judge late Tuesday greenlighted Chrysler's plan to review and accept bids for the automaker's quick sale of the company, despite an objection raised by a state agency over Chrysler's workers' compensation obligations. U.S. Bankruptcy Judge Arthur Gonzalez said there is an "urgent need for the sale to be consummated" and said the bidding process "provides a fair and orderly sale process."
He also agreed to give potential bidders another five days -- until May 20 -- to bid for Chrysler's assets and pushed back the date to hold a hearing to approve until May 27 -- one week behind the initial plan.
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