Chrysler Creditors Ask U.S. Justice to Stop Fiat Sale

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Chrysler Creditors Ask U.S. Justice to Stop Fiat Sale
http://www.bloomberg.com/apps/news?pid= ... iTT6yxgHSE

Chrysler LLC creditors asked a U.S. Supreme Court justice to block the carmaker from selling its assets as early as tomorrow to a group led by Italy’s Fiat SpA.

Indiana pension funds that lent Chrysler money said in papers filed late yesterday that they will seek a Supreme Court review of a ruling allowing the sale. The funds asked Justice Ruth Bader Ginsburg for an order blocking the transfer until the high court decides whether to hear the funds’ appeal.

“Absent a stay, the sale will close on Monday, June 8, 2009,” the funds said in their court papers, filed in Washington. They said they would suffer “irreparable harm” should the sale go forward.

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Looks like they've at least got the court's attention...

High court blocks Chrysler sale to Fiat
http://www.breitbart.com/article.php?id ... _article=1

Supreme Court Justice Ruth Bader Ginsburg on Monday delayed Chrysler's sale of most of its assets to a group led by Italy's Fiat, but didn't say how long the deal will remain on hold.

Ginsburg said in an order that the sale is "stayed pending further order," indicating that the delay may only be temporary.

Chrysler LLC has said the sale must close by June 15, or Fiat Group SpA has the option to walk away, leaving the Auburn Hills, Mich., automaker with little option but to liquidate.

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More fear mongering...

US warns on Chrysler liquidation risk
http://www.ft.com/cms/s/0/e9b41aec-5534 ... abdc0.html

The US government and Fiat have warned that Chrysler could go out of business as soon as next week if the Supreme Court does not quickly reject an attempt by three Indiana pension funds to block the bankrupt carmaker’s restructuring.

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The mongering was victorious again...

High court won't block Chrysler sale
http://www.breitbart.com/article.php?id ... _article=1

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 said late Tuesday it had rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. Chrysler, Fiat and the Obama administration had warned that the high court's intervention could have scuttled the sale.