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Supreme Court on Chrysler/Fiat: Proceed

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Old 06-09-2009, 10:21 PM
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Supreme Court on Chrysler/Fiat: Proceed

Also, Chrysler guaranteed dealers who are losing their franchises that it would find others to take their unsold vehicles.

http://www.cleanmpg.com/photos/data/501/Green_Light.jpg
Michael J. de la Merced - BLOGS - June 9, 2009

The marriage will happen --Ed.

The Supreme Court late Tuesday declined to extend a stay of the sale of Chrysler assets to Fiat, clearing the way for the deal to close as soon as Wednesday morning over the objections of three Indiana state pension funds and several consumer groups.

The refusal by the Supreme Court to revisit the matter, after two lower courts approved the sale, removes the uncertainty posed by a decision by Justice Ruth Bader Ginsburg on Monday to temporarily halt the deal pending further review.

In the order issued late Tuesday, the Supreme Court said it had not made a decision on the merits of the appeal by the Indiana funds, which have protested the government’s treatment of Chrysler’s secured lenders. Instead, according to the order, the Indiana funds “have not carried the burden” of proving that the Supreme Court needed to intervene.... [Read More]
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