Tuesday, June 09, 2009

Supreme Court Won't Block Chrysler Sale


The Supreme Court cleared the way for the bulk of Chrysler LLC's assets to emerge from bankruptcy by Wednesday, canceling a court-ordered hold on the sale and allowing a historic tie-up with Italian automaker Fiat SpA.

The two-page unsigned opinion from the high court lifted a temporary stay -- just more than 27 hours after Justice Ruth Bader Ginsburg issued a temporary delay just before 4 p.m. Monday. The court offered little explanation, simply saying that a group of Indiana pension fund petitioners who had sought a full hearing hadn't met their burden.
OK, back to the Wings...