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SUNDAY, NOVEMBER 22, 2009
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Supreme Court Won't Block Chrysler Sale

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(AP) – The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal. The court late today rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. With the court's move, the deal can now close as early as tomorrow morning.  

In a brief, unsigned opinion, the justices declared that the deal's opponents—including a trio of Indiana pension plans—did not sufficiently make the case that the court should intervene. They did not rule on the legal merits of the challenge. Justice Ruth Bader Ginsburg had ordered a temporary delay yesterday, injecting a measure of uncertainty into a bankruptcy deal that the Obama administration had promised would move quickly.

A Chrysler PT Cruiser.
A Chrysler PT Cruiser.   (AP Photo/Paul Sakuma)
A Chrysler-Jeep dealership.
A Chrysler-Jeep dealership.   (AP Photo/David Zalubowski)
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11 comments
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justme
Jun 9, 09 7:05 PM CDT
Obama got his "Deal" and the investors got the shaft. Not to worry, the Unions did just fine with a big ownership share. That's a government running a business. Favoritism isn't fair no matter who gets favored. Reply
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+4
AnnieChrist
Jun 9, 09 9:51 PM CDT
Your comment indicates nothing except the fact you know absolutely zilch about bankruptcy proceedings, and even less about this particular proceeding. Don't post a comment when you know nothing about the subject, you only embarrass yourself. Reply
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-4
IN RESPONSE:
triordan
Jun 10, 09 9:30 AM CDT
No, his comment clearly shows he understands how our financial markets and business contracts should work. Secured Bondholders should have gotten their money back first (they got the least percentage back). Investors are going to RUN if they can't rely on contracts to protect them and the gov't gets to re-write anything they want.
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+1
kokuaguy
Jun 10, 09 2:22 AM CDT
And how are all the night owls out there? Reply
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0
kokuaguy
Jun 10, 09 2:28 AM CDT
Actually, I'm curious about only one in particular. Reply
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0

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