A U.S. bankruptcy judge approved bidding procedures for the rapid sale of most of Chrysler’s assets, over objections from a group of lenders who called the accelerated timetable an “absurdity”.

Judge Arthur Gonzalez, who is overseeing Chrysler’s bankruptcy case in Manhattan, said late on Tuesday, the proposed procedures were “appropriate and necessary” given that there is evidence that “there is an urgent need for the deal to be consummated.”

The U.S. automaker, which filed for bankruptcy in New York on April 30, had asked for permission for a quick sale of most of its assets to a new company held by Italy’s Fiat SpA, a United Auto Workers union-aligned healthcare trust and the U.S. and Canadian governments.