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Breaking News: Supreme Court Delays Chrysler Sale to Fiat

Posted in auto industry, Chrysler, Fiat, Newsworthy by Alex Kierstein | June 8th, 2009 | Leave a Reply |


This just in from our DC bureau … in a one sentence emergency order, Justice Ruth Bader Ginsburg (who handles these sorts of things for the court) has halted the sale of Chrysler to Fiat while the Indiana funds who hold some of Chrysler’s debt contest the sale. These funds are seeking more cash for their stake than would be given under the deal as proposed.

A sense of urgency has gripped federal officials and others interested in seeing the deal go through, as Fiat can walk away after June 15th if no deal is made. The government is working on resolving this as soon as possible. Stay tuned for more developments.

[Source: NYT]

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