Posted on 06/07/2009 6:52:45 AM PDT by jimbo123
WASHINGTON (Dow Jones)--A group of Indiana pension funds opposed to Chrysler LLC's sale to Fiat SpA (FIATY) on Saturday filed an emergency appeal with the U.S. Supreme Court to stay the sale while they continue their attempts to block it.
The emergency stay request, filed shortly before midnight Saturday, came after the 2nd U.S. Circuit Court of Appeals in New York approved the acquisition of most of Chrysler's assets by a group led by Fiat, the Italian auto manufacturer. A U.S. bankruptcy judge early last week approved the sale.
A coalition of consumer groups lodged a separate stay request early Sunday morning, arguing the sale terms applied to the deal would wrongly shield the new company from injury lawsuits involving current Chrysler vehicles.
(Excerpt) Read more at online.wsj.com ...
I consider this issue to be the absolute last stand for the rule of law in this country.
I don’t really expect that the little old state of Indiana is going to be able to stem the tide of socialism all by itself, but I do have to hope that this case will expose the Chicago-style THUG politics that the Obama administration is using to push their nationalizations through.
What we have here is nothing less than a coup. In broad daylight.
WAKE UP AMERICA - YOU’RE BEING ROLLED!!
Thanks - the order is still not on the USSC page.
I couldn’t agree more.
The Republic is hanging on by a thread.
Bambi just got b* slapped
“UPON CONSIDERATION of the application of counsel for the applicants, and the responses filed thereto,
IT IS ORDERED that the orders of the Bankruptcy Court for the Southern District of New York, case No. 09-50002, dated May 31 and June 1, 2009, are stayed pending further order of the undersigned or of the Court.”
— RBG
http://www.scotusblog.com/wp/ginsburg-temporarily-blocks-chrysler-deal/
The action had almost no legal significance, however. The deal remains in legal limbo until Ginsburg, as the Circuit Justice, or the full Court takes some definitive action.
It does have significance - because without the stay, Chrysler would have closed the deal immediately, and Indianna’s case would be moot. And the Republic would be over.
Which still may happen - but it won’t happen today.
Finally someone has the gonads to stand up to O and challenge what he is doing.
I eanestly thanked G_D when this was announced. All of the other stuff the news is reporting, is mere distraction in comparison - THIS is the war.
Thanks Ernest.
Kagan waves Court off Chrysler
Politico | 06/08/09 | Josh Gerstein
Posted on 06/08/2009 10:01:47 AM PDT by thomas16
http://www.freerepublic.com/focus/news/2267280/posts
BREAKING: USSC delays Chrysler asset sale!
CNBC Breaking News (live) | 08 JUL 09 | dcbryan1
Posted on 06/08/2009 1:08:48 PM PDT by DCBryan1
http://www.freerepublic.com/focus/news/2267434/posts
Obama’s man called shots on bankruptcy
Detroit Free Press | June 7, 2009 | Greg Gardner
Posted on 06/08/2009 9:42:25 AM PDT by St. Louis Conservative
http://www.freerepublic.com/focus/news/2267268/posts
Fewer but bigger dealerships expected to boost car prices
($2000 - $6000 per vehicle)
Boston Globe | 6/8/09
Posted on 06/08/2009 7:44:37 AM PDT by earlJam
http://www.freerepublic.com/focus/news/2267164/posts
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